The European Bank for Reconstruction and Development (EBRD) is providing a €30 million loan to Banque de Tunisie, the largest Tunisian bank by market capitalisation, for on-lending to micro, small and medium-sized enterprises (MSMEs) in Tunisia.
Tunisian MSMEs, which account for 91 per cent of active firms in Tunisia, provide 69 per cent of employment in the private sector. These enterprises play an important role, accounting for 51 per cent of gross domestic product.
The EBRD credit line will provide much-needed long term financing to MSMEs, helping to strengthen and develop a vital sector for the country’s economy and generate job opportunities.
Hildegard Gacek, EBRD Managing Director for the Southern and Eastern Mediterranean region, said: “We are very pleased to further support private enterprises in Tunisia by teaming up with Banque de Tunisie. Tunisia has great potential, with high levels of entrepreneurship which we consider to be one of the most important pillars of the economy.”
The EBRD has been operating in Tunisia since September 2012, committing over €232 million in 16 projects across various sectors and signing two trade finance agreements with local banks. The Bank has also facilitated direct technical assistance through its Small Business Support programme, which has benefited approximately 130 Tunisian small and medium-sized firms to date.