EBRD and Sullivan & Worcester expand SCF offering in Türkiye and Romania - Trade Treasury Payments

• Home
• Blog
• EBRD
• EBRD and Sullivan & Worcester expand SCF offering in Türkiye and Romania

EBRD and Sullivan & Worcester expand SCF offering in Türkiye and Romania

Firstly, Sullivan supported EBRD’s unfunded risk participation in Akbank’s SCF programme benefiting Sok, a leading Turkish retailer. The programme will enable over 100 suppliers—predominantly small and medium-sized enterprises (SMEs) located in earthquake-devastated cities—to access affordable working capital solutions.

The initiative, backed by the European Commission’s IPA II Fund, aims to address critical economic challenges in a region that lost nearly 40% of its workforce to emigration following the 2023 earthquakes. The programme seeks not only to provide financial support but also to facilitate economic reconstruction and workforce retention.

In a parallel transaction, Sullivan collaborated with Kinstellar to advise EBRD on its partnership with Banca Transilvania, enhancing the SCF programme for Profi Rom Food, Romania’s leading retail chain. This marks EBRD’s first SCF initiative in Romania, targeting domestic value chain strengthening.

The Romanian programme will enable up to €10 million in local currency risk participation, potentially expanding Profi’s supply chain financing by €20 million. Participating suppliers will additionally benefit from advisory support and sustainability incentives.

Sullivan counsel Daniela Barrdear, leading the Sullivan team advising EBRD, said, “We are very pleased to assist in EBRD’s support of supply chain finance and their efforts to increase SMEs’ access to working capital finance. We look forward to working together in EBRD’s endeavour to expand the Supply Chain Solutions Framework to narrow the trade finance gap.”

In disaster-recovery contexts, SCF provides critical liquidity to SMEs struggling to maintain operations after economic disruption, thereby helping rebuild regional economic ecosystems that have been severely impacted by catastrophic events. 

Moreover, these targeted interventions go beyond traditional financial aid by incentivising sustainable business practices for long-term economic resilience.