EIB launches new programme to develop microcredit in Tunisia

Oct 25, 2012

The European Investment Bank (EIB) and the government of Luxembourg have announced the launch of 'Tunisia-MicroMed' in a bid to boost the development of the microfinance sector in Tunisia.

The European Investment Bank (EIB) and the government of Luxembourg have announced the launch of 'Tunisia-MicroMed' in a bid to boost the development of the microfinance sector in Tunisia.

This €4 million five-year programme aims to improve the regulatory environment of the sector and microfinance institutions' (MFIs') ability to increase their activities in order to satisfy the demand, PANA news agency reports.

According to the EIB, it should strengthen MFIs' skills, improve the sector's transparency and facilitate the emergence of inclusive financial products, particularly for young entrepreneurs.

This launch is one of many efforts made by the Tunisian government and development finance institutions to revitalise the sector in a post-revolutionary context with decreasing microfinance activity.

In 2011, around a third of microfinance associations were concentrating on credit collection without granting new loans, La Presse reports.

A new law was also adopted last year by the Finance Ministry to allow MFIs to sell several microinsurance products in order to target a larger number of customers and broaden the spectrum of their activities.ADNFCR-2976-ID-801476137-ADNFCR