Turkish state-owned lender Halkbank has announced a financial support package for women's cooperatives and entrepreneurs in Türkiye’s southeastern region which was affected by recent earthquakes that was centered in Kahramanmaraş and impacted 11 provinces.
The bank is offering a special financial package to help ensure the continuity of production in the area.
This initiative is aimed at promoting gender equality and empowering women in the region by providing them with the resources they need to sustain their businesses and livelihoods in the aftermath of the disaster.
The support package consists of two loans: The Women's Cooperatives Support Loan, and the Credit Guarantee Fund (KGF) Women Entrepreneur Support Loan.
The Women's Cooperatives Support Loan is designed to provide zero-interest loans of up to TL 50,000 ($2,640) to women's cooperatives in the provinces of Adana, Adıyaman, Diyarbakır, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Osmaniye, Şanlıurfa and Elazığ. This funding can be used for business expenses to help these cooperatives recover from the earthquake damage and continue their operations.
The loan can be repaid over a period of 36 months, with a one-year grace period and equal monthly installments.
The second loan is the KGF Guaranteed Women Entrepreneur Support Loan, which will cover micro, small and medium-sized enterprises. Women entrepreneurs affected by the earthquakes will be able to apply for a one-year non-refundable business loan with a total maturity of 36 months, or an investment loan with a total maturity of 60 months.
Halkbank's General Manager Osman Arslan highlighted the importance of the support package for women entrepreneurs and cooperatives impacted by the earthquake. He noted that this initiative aims to help these producers quickly reintegrate into social and economic life, while promoting solidarity and redevelopment in the region.
Arslan emphasized the significance of small and medium-sized enterprises (SMEs) in the development of the region and acknowledged the role of women entrepreneurs as the lifeblood of these businesses.
He also mentioned that Halkbank has already supported over 172,000 women entrepreneurs across Türkiye with the Women Entrepreneur Loan Support Package, providing a total of more than TL 30 billion in support.
Arslan pointed out that the recent earthquake has deeply affected the 13.5 million people living in the region, with women being the most vulnerable.
He emphasized that women are facing significant challenges such as shelter, security and providing for their families. Through their assessment, Halkbank identified a total of 143 women's cooperatives in the affected provinces and districts and conducted interviews with 70 cooperatives in the region, he added.