Tashkent, Uzbekistan (UzDaily.uz) — The Turkic Investment Fund (TIF) is contributing US$10 million to a US$170 million syndicated loan to Türkiye's Şekerbank T.A.Ş., marking its first transaction in the country, the fund's press service said.
The deal was announced in Istanbul on 9 November 2026. Türkiye is one of the fund's founding member states.
The five-year loan carries senior repayment priority. The Dutch development bank FMO organised the financing to support Şekerbank's inclusive and sustainable banking operations.
The syndicate comprises seven international development institutions and investors focused on social and environmental impact.
They include FMO, Proparco, the private-sector financing arm of the French Development Agency Group (AFD), and Austria's Development Bank (Oesterreichische Entwicklungsbank AG, OeEB).
The other participants are the Finnish Fund for Industrial Cooperation (Finnfund), the Turkic Investment Fund, the BlueOrchard Microfinance Fund (BOMF) and responsAbility Investments AG.
Şekerbank will use the proceeds to provide loans to micro, small and medium-sized enterprises in rural areas engaged in cross-border trade and services.
Another target group is companies owned or managed by women. Part of the financing will also support investment in sustainable agriculture and the green transition.
Şekerbank was founded in 1953 in Eskisehir using savings from farmers belonging to sugar beet-growing cooperatives. Its headquarters are now in Istanbul, and its shares are traded on the Istanbul Stock Exchange (Borsa İstanbul).
The bank operates 239 branches across 68 provinces.
"Participation in this financing marks the Turkic Investment Fund's first transaction in Türkiye. We are pleased to cooperate with Şekerbank," the fund's Chief Executive Officer Ramil Babaev said.
He said the bank's 73 years of experience and extensive customer base among rural small and medium-sized businesses provided a solid foundation for the partnership.
"Our participation brings together two key areas of the Fund's mandate: developing the private sector by expanding access to financial services and promoting regional economic integration," Babaev said.
He added that the TIF's financing was intended for Şekerbank customers engaged in cross-border trade, providing services, expanding their businesses or establishing joint ventures with partners from the fund's member states.
Babaev thanked Şekerbank for its commitment to shared objectives and FMO for organising the syndicate.
The Turkic Investment Fund is the first international financial institution jointly established by Turkic states. It was created by a decision of the Council of Heads of State of the Organisation of Turkic States (OTS).
Its purpose is to strengthen economic cooperation, develop intra-regional trade and support sustainable development across the Turkic world.
The fund finances micro, small and medium-sized enterprises, access to financial services, physical and digital infrastructure, renewable energy, agriculture, transport and logistics, and cross-border trade.
To support these activities, it frequently co-finances projects and invests alongside leading multilateral development banks and development finance institutions.
