Access to Finance Projects
We implement projects to facilitate small businesses and entrepreneurs to easily access to financial support they need.
Greater Anatolia Guarantee Facility (GAGF)
The Greater Anatolia Guarantee Facility Project (GAGF) developed in close collaboration with the European Investment Bank (EIB) Group, is run by the European Investment Fund (EIF) as a specialised agency. The Project is implemented in a cooperative manner with Credit Guarantee Fund (CGF) and intermediary banks identified. With the loans provided by the intermediary banks, micro businesses and SMEs benefit from advantages such as longer terms, lower levels of collateral or interest rate reductions. With the GAGF Project a credit volume of 1 billion Euro was created for the use of thousands of SMEs.
The GAGF Project was designed under three main headings:
1. Guarantee for micro credits: The project offers a 13.5 million Euro counter-guarantee to CGF for micro credits. Thus, 4500 micro-businesses from these regions are provided with lending facilities for their operational and investment capital.
2. Assurance for SMEs: For the operational and investment capital needs of 10 thousand SMEs, 40.5 million Euro guarantee is provided through intermediary banks.
3. Capacity increase and publicity: The relevant skills and competencies -in other words, the institutional capacity- of stakeholders to be involved in the implementation of the GAGF Project are enhanced, and the project is promoted.
Micro-businesses with less than ten employees, and less than 2 million Euro annual turnover, SMEs with less than 250 employees and less than 50 million Euro annual turnover or less than 43 million Euro total asset can benefit from loan procurement under the GAGF project. Micro-businesses and SMEs wishing to take advantage of the opportunities offered by the GAGF Project should already be established or be operating in one of those 43 aforementioned provinces. Additionally, micro-businesses and SMEs operating in other regions but willing to invest in the target region can benefit from the opportunities offered by GAGF. By 31 December2016, 810 million euro credit has been provided to 14.000 micro enterprise and SMEs, under this project.
+90 312 201 68 78
G43 Venture Capital
The project, which is developed together with European Investment Fund, creates venture capital investment to enterprises with a high growth potential. Supported by Istanbul Venture Capital Initiative, the project aims to direct at least 50% of the investment to GAP region and the other 50% to the regions where income per capita is less than 75% of the national average.
European Investment Fund transfers project funds to SMEs via ‘financial intermediaries'. Through Abraaj Group as the authorised independent fund manager it is planned to invest in 5-6 enterprises in the targeted region with 20 million Euro fund.
Within the project, fund managers will not only provide capital to SMEs, but they will also add value on a larger scale such as helping them to acquire professional management processes so that they can further develop in a competitive environment and building international business contacts. There are two important criteria for benefiting from G43 Anatolian Venture Capital Fund that will be active until the end of 2017:
Businesses should have less than 250 employees and the turnover should be less than 50 million Euro or balance sheet size should be less than 43 million Euro, Businesses should be located or operating in those 43 provinces where per capita income is 75% less than the average of Turkey.
Reviewing SMEs that comply with these broad criteria, the independent fund manager focuses on companies presenting high growth potential. The investment decision is taken as a result of detailed commercial, financial and legal analyses. Through this project investment has been made to two companies in Kayseri and Şanlıurfa until today.
+90 312 595 26 94
Technology Transfer Accelerator Fund Project
The Technology Transfer Accelerator Turkey Fund Project aims to increase technology transfer and commercialization of R&D results in Turkey.
The fund created for this purpose is the first such fund created to both encourage entrepreneurs to start up a business in technology and to finance existing businesses in technology production and distribution. The project aims to commercialize technology, in other words make developed technology available for the use of other sectors as rapidly as possible.
Led by the European Union, this will be the first time that technology producers and entrepreneurs are supported by such a large fund in Turkey, enabling them the opportunity to start producing in European standards right away, without having to spend time seeking investors.
The project aims to foster techno-entrepreneurship by directly investing in 50 innovative projects through the fund. The Technology Transfer Acceleration Turkey Fund Project will adopt the principle of transparent and fair evaluation at every step of the project. The fund is managed by two independent fund managers and aims to reach across Turkey, concentrating on regions with a lower-than-average income level. By 31 December 2016 it has been invested approximately 11 million Euro to 27 projects within the scope of project funds.
+90 312 468 53 00 / 4814 - 4562