Tunisia: €100 million from the EIB to support Tunisian SMEs
The sum will be allocated through credit lines to several Tunisian banks.The European Investment Bank (EIB) announced this week it has granted a €250 million loan to Tunisia, including €100 million to support small and medium-sized enterprises (SMEs) in the country.
The remaining €150 million will be allocated to the modernisation of priority roads in the Greater Tunis area and in other parts of the country.
The €100 million fund targeting SMEs will be allocated through credit lines to several Tunisian banks to support entrepreneurship.
The EIB has already provided funding of €170 million in 2014 to Tunisia to improve SMEs' access to credit and strengthen the financial education of young Tunisians.
The main goal was to support private sector development projects through financial instruments adapted to the local market and on favourable terms.
With these credit lines, EIB hopes 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.