The European Bank for Reconstruction and Development (EBRD) is giving a financial boost to one of Turkey’s fastest-growing medical equipment producers, Asset Medikal Tasarim AS, following burgeoning demand triggered by the coronavirus outbreak.

The EBRD is joining forces with Turkiye Sinai Kalkinma Bankasi (TSKB) – the Industrial Development Bank of Turkey – by jointly providing a €1 million working capital loan to help the company expand its production.

Asset Medikal is producing innovative needle-free valves, which prevent healthcare workers from accidental needlestick injuries. The company’s products are sold in 30 countries across 5 continents. Covid-19 has significantly increased the need for transfusions in hospitals, triggering a jump in demand for Asset Medikal’s products.

The loan, provided equally between the EBRD and TSKB, will enable Asset Medikal to increase production by supporting its working capital needs. The company will also take steps to improve social sustainability by raising awareness and increasing gender equality. Furthermore, Asset Medikal will aim to maintain social benefits in line with the healthcare industry.