The International Finance Corporation (IFC) has announced a major $100 million investment in Türkiye Sınai Kalkınma Bankası (TSKB), the country’s first privately-owned development and investment bank. This funding aims to strengthen support for businesses that prioritise women’s inclusion in their operations, with a special focus on the aftermath of the recent earthquakes.
The investment follows a successful partnership in 2022 between the IFC and TSKB, which made significant strides in advancing gender inclusion by creating job opportunities for women. Building on this foundation, the renewed collaboration will allow TSKB to broaden its financial support for businesses that promote gender equality. A key part of this effort is TSKB’s gender toolkit, a resource that helps companies improve gender parity across their workforce and operations.
TSKB’s CEO Murat Bilgiç commented on the importance of the initiative, saying, “By increasing women’s competencies beyond traditional social roles, we can magnify their contributions to the economy.” He went on to express excitement about the continued collaboration with IFC, following the success of their 2022 agreement, and the potential impact of this renewed focus on gender equality strategies.
Wiebke Schloemer, the IFC’s Director for Türkiye and Central Asia, also highlighted the economic potential of women in the country. “Women represent an underutilized talent pool in Türkiye that can significantly contribute to its economic growth,” she noted. “Advancing gender equality through targeted investments isn’t just ethically right—it’s an economically sound strategy.”
The partnership between the IFC and TSKB dates back to 1963, with a shared focus on sustainable development, climate finance, and gender equality in Türkiye. Over the years, IFC has mobilised over $705 million for gender finance projects in the country. With a total portfolio commitment of $5.4 billion as of December 2024, Türkiye ranks as the third-largest global exposure for the IFC. This ongoing collaboration underscores the importance of gender-inclusive economic strategies for long-term growth.
