Tunisia: EIB allocates a €200 million credit line to SMEs
The European Investment Bank (EIB) announced on June 22nd in Tunis that it will make available for Tunisian small and medium-sized companies (SMEs) a €200 million credit line.The European Investment Bank (EIB) announced on June 22nd in Tunis that it will make available for Tunisian small and medium-sized enterprises (SMEs) a €200 million credit line.
IEB's office director Robert Feige told TAP news agency that the first €100 million will be available by the end of 2012.
Houcine Dimassi, Finance Minister, added that Tunisia has a strong interest in developing its cooperation with economic partners in order to create a new dynamic - helping the country return to a positive growth.
The EIB expects this credit line to improve access to finance for Tunisian SMEs, which represent 95 percent of businesses. These companies often have difficulties accessing credit as they sometimes struggle to provide the guarantees required by commercial banks.
According to a 2011 report from the Union of Arab Banks and the World Bank called The status of lending in the Middle East and North Africa region, the ratio of loans to SMEs compared with all loans in Tunisia is 15 percent, while in comparison, this figure is 24 percent in Morocco.