Turkish medical equipment producer Asset Medikal obtains working capital from EBRD

By bne IntelIiNews January 4, 2021

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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