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EBRD and UBCI strengthen partnership through Risk Sharing Facility
Author: Maroua Beddadi
- EBRD signs €10 million Risk Sharing Facility agreement with UBCI
- Facility to support private-sector investment and development in Tunisia
- First transactions under the facility to support Agua Services d'Assainissement
The European Bank for Reconstruction and Development (EBRD) and Union Bancaire pour le Commerce et l’Industrie (UBCI) have signed an agreement to implement a €10 million Risk Sharinf Facility (RSF) agreement. The deal strengthens the long-standing partnership between the two institutions and aims to support investment and private-sector development in Tunisia.
The first transactions are already taking place under the facility. UBCI is providing a financing package of €3.5 million to Agua Services d'Assainissement (ASA), a special purpose vehicle sponsored by Aguas de Portugal and Maghrebia Technologies & Travaux, and established to rehabilitate, operate and maintain sanitation infrastructure in the Greater Tunis area under a concession agreement with the National Sanitation Utility.
The financing package comprises a €3 million secured senior loan to finance equipment purchases and a €0.5 million secured revolving working-capital facility. This is the EBRD's first risk-sharing facility financing of a concession project and its second infrastructure operation under the facility. It also represents the EBRD’s first infrastructure operation under the facility in the SEMED region and the EBRD’s first private-sector infrastructure transaction in Tunisia.
The concession covers the rehabilitation of the existing Chotrana II wastewater treatment plant, improvements to the quality of treated wastewater, and the operation and maintenance of an extensive wastewater network serving Greater Tunis.
In addition, ASA will benefit from a Finance and Technology Transfer Centre for Climate Change (FINTECCC) grant from the EBRD of up to €311,110 to ensure the optimal use of resources and facilitate technology transfer through the introduction of climate technologies.
The partnership between the EBRD and UBCI dates back to 2014 and has expanded over the years through a range of financing instruments tosupport private-sector growth in Tunisia.
Through the risk-sharing facility, the EBRD shares risk with partner financial institutions, helping to mobilise financing for investments that contribute to economic growth, strengthen the private sector and expand access to finance.
The programme will enable UBCI to support more investment projects and strengthen its support for Tunisian businesses across different sectors of the economy.
Since the Bank began operating in Tunisia, it has invested more than €3.1 billion in 92 projects across the country, with 65 per cent of that investment going to the private sector.