Tunisia: EIB invests €170 million to improve SMEs' access to credit

Jun 23, 2014

The European Investment Bank (EIB) announced in a statement that it will provide funding of D383 million (€170 million) to Tunisia to improve small and medium-sized enterprises' (SMEs) access to finance.

The European Investment Bank (EIB) announced in a statement that it will provide funding of D383 million (€170 million) to Tunisia to improve small and medium-sized enterprises' (SMEs) access to finance.

The envelope includes a line of credit and a first funding for the education of young Tunisians, newspaper La Presse reports.

The line of credit aims to support development projects in the private sector through financial instruments adapted to the local market and on
favourable
terms.

This announcement follows a D145 million (€72.6 million) loan from the World Bank designed to improve SMEs' access to finance in Tunisia.

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

With these lines of credit, donors hope to improve access to finance for Tunisian SMEs, which represent more than 95 percent of all businesses, in order to stimulate the economy, weakened by recent political unrest and the international financial crisis.ADNFCR-2976-ID-801730006-ADNFCR