EBRD proposes €15 million loan to boost MSME lending in Tunisia

Mar 18, 2014

The European Bank for Reconstruction and Development (EBRD) is considering providing a senior unsecured loan of up to €15 million to Compagnie Internationale de Leasing (CIL) to on-lend to micro, small and medium-sized enterprises (MSMEs) in Tunisia.

The European Bank for Reconstruction and Development (EBRD) is considering providing a senior unsecured loan of up to €15 million to Compagnie Internationale de Leasing (CIL) to on-lend to micro, small and medium-sized enterprises (MSMEs) in Tunisia.

The proposed project will increase the access to funding to MSMEs in Tunisia in a context of liquidity constraints. The project also will help CIL enhance its risk management and corporate governance, as well as
support
the gradual implementation of International Financial Reporting Standards (IFRS), according to the EBRD.

CIL is the fourth largest leasing company in Tunisia by the leasing portfolio with total assets of €176 million as of 30 June 2013.

In January, the ERBD granted a €40 million line of credit to BTK bank in Tunisia, also to support small companies.

The bank is hoping with these lines of credit to improve access to finance for Tunisian MSMEs, which represent 95 percent of all businesses. They often have difficulties accessing credit as they often are unable to provide the guarantees required by commercial banks.ADNFCR-2976-ID-801704012-ADNFCR