Tunisia: The IFC allocates more than €35 million to SME financing

Jan 30, 2013

The International Finance Corporation (IFC) has announced it will invest $48 million (€35.8 million) in Amen Bank to promote the growth of private entrepreneurs and stimulate job creation in Tunisia.

The International Finance Corporation (IFC) has announced it will invest $48 million (€35.8 million) in Amen Bank to promote the growth of private entrepreneurs and stimulate job creation in Tunisia.

The IFC said it would also provide advice on risk and corporate management.

"This partnership should help Amen Bank expand its lending services to small businesses who often struggle to obtain the necessary financing to support their growth," the World Bank said in a statement on January 26th.

This announcement comes just days after the Bank for the financing of small and medium enterprises
announced that it had strengthened its presence in each region of Tunisia.

Twenty percent of its workforce is now established in regional offices and this rate should reach 40 percent by the end of 2013, according to the institution.

These initiatives are expected to improve access to credit for Tunisian SMEs, which represent 95 per cent of businesses.

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