The World Bank is ‍partnering with Turkey's ‍Vakifbank to mobilise up ​to 1.5 billion euros ($1.76 billion) to expand ⁠access to finance for the country's micro, ⁠small and ‌medium enterprises, the multilateral lender said on Tuesday.

The project ⁠will leverage a 750-million-euro International Bank for Reconstruction and Development guarantee to secure a 10-year financing ⁠facility composed of ​commercial financing from international lenders, the World Bank said.

The ‍initiative, focused particularly on women ​and youth, is part of the World Bank's Access to Finance for Jobs and Growth Program, a $4 billion initiative. Turkey is among the first countries to benefit from the program, which aims to improve access to ⁠financial services and instruments ‌for businesses across the Europe and Central Asia region.

($1 = 0.8513 ‌euros)

(Reporting ⁠by Can Sezer; Writing by Huseyin ⁠Hayatsever; Editing by Joe Bavier)