Facebook to grant 7 million liras to Turkish SMEs

Social media giant had recently announced a $100 million grant to help 30,000 thousand SMEs from more than 30 countries

Facebook announced that it launched a grant program of 7 million Turkish Liras ($946,000) to support SMEs in Istanbul.

Eligible SMEs that want to benefit from the financial support should apply. The U.S. social media giant had recently announced a $100 million grant to help 30,000 thousand SMEs from more than 30 countries. Aiming to support SMEs in their efforts to overcome difficulties and recover in the COVID-19 period, the grant support that consists of cash and ad credits Facebook will be providing will only be eligible for businesses in Istanbul. In the project, Facebook will be partnering with Deloitte and the Turkish Union of Chambers and Commodity Exchanges (TOBB) women and youth departments.

Not only a public but also an economic crisis

Derya Matraş, Facebook’s regional director for the Middle East, Africa and Turkey, underlined COVID-19 is not just a public but also an economic crisis that has affected SMEs the most. 

All Istanbul-based businesses, which are employing between two and 50 people and have been active within the last 12 months, will be eligible to apply to benefit from the project.

Image: Derya Matraş, Facebook Regional Director for MEA and Turkey

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