IFC to help Tunisia with bank risk management
The International Finance Corporation (IFC) is to help the Central Bank of Tunisia (BCT) with its bank risk management.The International Finance Corporation (IFC) is to help the Central Bank of Tunisia (BCT) with its bank risk management.
By strengthening the BCT's central risk division, the IFC wants to “improve financial stability and to reinforce how companies can access funding”, according to the letter of undertaking co-signed by the two institutions.
According to Chedly Ayari,
BCT's Governor, this partnership will lead to “an improvement of the country’s financial stability and to the development of a credit offering”. Indeed, the central risk division's mission is to list all credits granted by Tunisian banks.
The undertaking is part of the IFC objectives: it plans to support SMEs and to strengthen the basic infrastructure and the Tunisian banking sector's returns, according to Kapitalis.com.
The IFC has been in Tunisia since January 2012, when it opened its first bureau in the country. This move followed a donation of 1.039 million dollars, granted by the IFC in October 2012.
Previously, IFC's Vice-President Dimitris Tsitsiragos explained that the member of the World Bank wanted to “carefully examine what Tunisia needed and to impart more efficiency to financial institution interventions in the country, whether for financing projects or technical support.”