Tunisia: EIB grants €1m line of credit to Taysir Microfinance

Dec 05, 2014

The European Investment Bank (EIB) granted on Wednesday, December 3rd a €1 million line of credit to Taysir Microfinance with a view to financing micro-projects located in disadvantaged areas of Tunisia.

The envelope mainly targets rural areas and poor neighbourhoods of Tunis, with a focus on youth and female project leaders.

"The future of countries depends on infrastructure and industrial development, especially small and medium-sized enterprises. This is why we would like to help promote the microfinance sector in Tunisia, which will contribute to economic growth and job creation for the youth," said Werner Hoyer, President of the EIB, quoted by Babnet.

The EIB will also sign on December 4th a financing agreement with the Tunisian-Kuwaiti Bank (BTK) as part of a partnership with the "Entreprendre" network.

The objective is to support the creation and development of Tunisian very small enterprises by awarding loans along with an individual coaching during the first years of activity.

According to a statement from the EIB, these are new fundings
with high social value to the EIB, "whose main goal is to assist small project holders plagued by difficulties