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EBRD and Tam Finans team up on new trade facility

By Dilara Sarı

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  • EBRD providing Tam Finans Factoring A.S. with a €10 million trade finance facility
  • First trade finance facility for a factoring company in Türkiye
  • Innovative facility to support SMEs engaged in domestic and international trade

The European Bank for Reconstruction and Development (EBRD) is providing Türkiye’s Tam Finans Factoring A.S. with a €10 million factoring facility under its Trade Facilitation Programme (TFP), targeting small and medium-sized enterprises (SMEs).

Building on the Bank’s current cooperation with Tam Finans, the facility will expand the company’s portfolio by providing funding to SMEs for domestic and international factoring transactions.

TAM Finans is a fast-growing, independent factoring company in Türkiye, focused on SME clients, including micro enterprises. Established in 2012, it is the country’s largest factoring company by number of clients and branch network, providing a wide range of factoring services.

Factoring is an efficient tool in times of economic turbulence, allowing companies to improve their liquidity by receiving immediate working-capital financing.

EBRD Deputy Head of Türkiye Arthur Poghosyan welcomed the facility, saying: “Global trade has suffered extensively over the last few years. First, a global pandemic disrupted economies and now the Ukraine war continues to present challenges for trade routes. These global dynamics, coupled with economic vulnerabilities and the shock of the recent earthquakes Türkiye, have made trade difficult for the SMEs in the country.”

“The EBRD is happy to support Tam Finans in extending trade finance support to businesses across the country, especially at a challenging time like this,” he added. “We are confident that the strengthening of SMEs will serve to underpin Türkiye’s domestic and international trade capacity.”

Tam Finans Chief Executive Officer Hakan Karamanli said: “We at Tam Finans are extremely privileged to continue our partnership with the EBRD through this new and pioneering facility. We believe it comes at a very valuable time for Türkiye, especially in the aftermath of the devastating earthquakes in February. The TFP line is an instrumental facility in targeting SMEs, which form the backbone of the Turkish economy, specifically addressing their short-term financing needs based on invoice discounting, and will have even higher value added than expected during Türkiye’s period of economic recovery.

Tam Finans, with its noteworthy presence on the ground comprised of 39 branches, 15 mobile teams and 450 active sales people, maintains a unique capacity to tap 300.000 micro SMEs every year.

The cooperation with Tam Finans will further serve to expand EBRD funding to SMEs in the country, which make up the main pillar of Türkiye’s economy.

We are looking forward to enhance our relationship with EBRD.”

The EBRD TFP was established in 1999 with a view to promoting international trade between the economies in which the Bank operates, through guarantees and short-term loans to selected participating banks and factoring companies.

The programme was launched in Türkiye in 2013 and, since then, the EBRD has facilitated more than 645 transactions across the country worth a total €2.5 billion. It also offers technical assistance, including e-learning, regular workshops and seminars. Türkiye is now one of the most active countries in the programme.

To date, the EBRD has invested more than €17 billion through in various sectors of the Turkish economy, largely in the private sector. 

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