The European Bank for Reconstruction and Development (EBRD) has joined forces with Turkiye Sinai Kalkinma Bankasi (TSKB, or the Industrial Development Bank of Turkey) in providing a €1mn working capital loan to Turkey’s Asset Medikal Tasarim. The company has experienced burgeoning demand triggered by the coronavirus (COVID-19) outbreak.
The loan facility will help Asset Medikal, one of Turkey’s fastest-growing medical equipment producers, expand production, the EBRD said.
Asset Medikal produces needle-free valves, which prevent healthcare workers from suffering accidental needlestick injuries.
The company’s products are sold in 30 countries across five continents. COVID-19 has significantly increased the need for transfusions in hospitals, triggering a jump in demand for Asset Medikal’s products.
To date, the EBRD has invested €12.4bn through more than 300 projects in various sectors of the Turkish economy, with almost all of the investment in the private sector. The EBRD’s €7bn Turkey portfolio is the largest among the 38 economies where the development bank invests.
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