Tunisia: EBRD and ILC sign a €15 million agreement to support MSMEs

Apr 23, 2014

The European Bank for Reconstruction and Development (EBRD) signed a €15 million loan agreement with the International Leasing Company (CIL) to improve the financing of micro, small and medium-sized enterprises (MSMEs) in Tunisia.

The European Bank for Reconstruction and Development (EBRD) signed a €15 million loan agreement with the International Leasing Company (CIL) to improve the financing of micro, small and medium-sized enterprises (MSMEs) in Tunisia.

The EBRD will make this sum available to CIL, which provides credit to MSMEs wishing to acquire equipment, light commercial vehicles, trucks,
and
trailers,
as well as real estate, newspaper La Presse reports.

The loan is accompanied by a €200,000 technical assistance - mainly financed by the Multi-Donor Fund for the region (Semed) - helping the CIL to strengthen its activities in risk management, governance and the development of financial reports in accordance with international accounting standards.

CIL is the fourth largest leasing company in Tunisia by
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 these lines of credit will improve access to finance for Tunisian MSMEs - which represent 95 percent of all businesses - in order for them to
stimulate the economy,
which has been
weakened by recent political unrest as well as the international financial crisis.ADNFCR-2976-ID-801714210-ADNFCR