This project was approved in the context of the Bank's response to the COVID-19 pandemic. To avoid delays to the delivery of this project, the Bank's President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. Details of the Bank's response to COVID-19, and this deviation, can be found on our website.
Provision of a EUR 5 million loan to Compagnie Internationale de leasing ("CIL") for on-lending to micro, small and medium-sized enterprises (MSMEs) in Tunisia.
The proposed project targets MSMEs in Tunisia, which are the core of the Tunisian economy, but remain underserved by the banking sector. In the context of the current COVID-19 crisis, the proposed project will support CIL in addressing the funding needs of the local MSMEs' for capex purposes.
ETI score: 60
The loan will increase the availability of finance to MSMEs in Tunisia. The project contributes to the objectives of FIF, supporting the Competitive and Resilient transition qualities.
COMPAGNIE INTERNATIONALE DE LEASING SA
CIL is the 2nd largest leasing company in Tunisia by leasing portfolio with total assets of EUR 195 million as of 31 December 2019. CIL is listed on the Tunisian stock exchange (market capitalisation of EUR 24.4 million as of June 2020).
EBRD Finance Summary
Total Project Cost
- EBRD offers financing that is not available in the market from commercial sources on reasonable terms and conditions, e.g. a longer grace period than the market average. Such financing is necessary to structure the project (i.e. 5-year tenor).
- COVID-19 Crisis response: EBRD financing effectively bridges a financing gap deriving from adverse market conditions.
Environmental and Social Summary
Categorised FI (2019 ESP). CIL is an existing client of the Bank and has been satisfactorily reporting on the implementation of EBRD's E&S Risk Management Procedures and on its compliance with PRs 2, 4 and 9. CIL will be required to continue to comply with the PRs and the E&S Risk Management procedures for Leasing Activities, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual Environmental and Social Reports to the EBRD on E&S matters and on the implementation of the Performance Requirements.
Technical Cooperation and Grant Financing
Company Contact Information
16 avenue Jean Jaures, 1001 Tunis, Tunisia
PSD last updated
07 Jul 2020
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Specific enquiries can be made using the EBRD Enquiries form.
Environmental and Social Policy (ESP)
The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.
More information on the EBRD’s practices in this regard is set out in the ESP.
Integrity and Compliance
The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.
OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to email@example.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.
Access to Information Policy (AIP)
The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.
Specific requests for information can be made using the EBRD Enquiries form.
Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.