IFC Invests $100 M in Türkiye's TSKB to Foster Women’s Economic Empowerment

The International Finance Corporation (IFC) is channeling $100 million into Türkiye Sınai Kalkınma Bankası (TSKB), Türkiye’s first privately-owned development and investment bank, to bolster financial support for enterprises championing women’s inclusion. This strategic funding aims to promote women’s economic participation, leadership, and access to essential services, particularly in earthquake-affected regions.

The investment builds on a successful 2022 initiative between IFC and TSKB that advanced gender inclusion, leading to the creation of significant employment opportunities. The renewed collaboration enables TSKB to further expand access to finance for enterprises fostering gender equality while leveraging its advanced gender toolkit—a resource developed to assist businesses in improving gender parity in their operations.

“By increasing women’s competencies beyond traditional social roles, we can magnify their contributions to the economy,” remarked TSKB CEO Murat Bilgiç. “After our impactful 2022 agreement with IFC, we are thrilled to implement the transformative potential of gender-focused strategies through this second partnership.”

Tackling Persistent Gender Gaps

Women’s labor force participation in Türkiye remains significantly lower than the global average—35 percent in 2023 compared to around 48 percent globally, according to World Bank data. Additionally, an International Monetary Fund report estimates that Türkiye’s GDP is reduced by approximately 25 percent due to gender disparities in labor force participation.

“Women represent an underutilized talent pool in Türkiye that can significantly contribute to its economic growth,” said Wiebke Schloemer, IFC Director for Türkiye and Central Asia. “Advancing gender equality through targeted investments isn’t just ethically right—it’s an economically sound strategy.”

Defining Gender-Focused Enterprises

TSKB defines gender-focused enterprises as those that meet at least one of the following criteria:

• At least 20 percent female ownership.
• At least 25 percent of top executive positions held by women.
• Possession of a valid gender equality certification.
• Commitment to TSKB’s gender toolkit and associated action plan.

These businesses are eligible for funding under the new initiative, which also aims to showcase the broader business benefits of adopting gender-inclusive practices.

Demonstrating the Business Case for Gender Equality

Through case studies and best practices, IFC and TSKB aim to encourage mid-sized and large firms to embrace gender-focused financial strategies. These examples will highlight how improving workplace gender equality can enhance productivity, innovation, and overall business performance.

A Decades-Long Partnership for Sustainable Growth

IFC’s collaboration with TSKB began in 1963 and has since focused on key priorities such as sustainable development, climate finance, and gender equality in Türkiye. Over the years, IFC has mobilized over $705 million for gender finance in Türkiye, positioning the country as IFC’s third-largest global exposure with a committed portfolio of $5.4 billion as of December 2024.

Post-Earthquake Recovery Focus

A significant portion of the new investment will target enterprises in regions affected by Türkiye’s recent devastating earthquakes. By fostering gender equality in these areas, the partnership seeks to contribute to economic recovery while empowering women to play leading roles in rebuilding efforts.

With this latest investment, IFC and TSKB continue to demonstrate that prioritizing gender equality not only addresses critical social gaps but also unlocks substantial economic potential for Türkiye.