Project Description
Provision of a TFP line of USD 50 million to BIAT.
Project Objectives
The EBRD is considering providing a TFP line of USD 50 million to BIAT.
Transition Impact
ETI score: 63
Transition Impact is expected to derive from:
Integrated: The trade finance limit will expand access to, and availability of, trade finance across sectors which improves access of products and services to international markets.
Resilient: TFP limit will increase variety and sophistication of financial products and services by strengthening capabilities of partner banks through transfer of trade finance related skills and know-how, and support of professional education.
Client Information
UP BANQUE INTERNATIONALE ARABE DE TUNISIE SA
Banque Internationale Arabe de Tunisie (BIAT) is the largest commercial bank in Tunisia controlling around 15% of assets and 18% of deposits at December 2021. The bank operates through a large network of 206 branches across the country.
BIAT is majority owned by the Mabrouk group since the mid-2000s with a 38.6% stake as of 2022. Other shareholders are Tunisian groups: Milad group (13%), Tamarziste group (9.3%) and Horchani group (7.0%) while floating shares represented 32.1%. BIAT is listed on the Tunis Stock Exchange with a capitalization of EUR 938 million as of September 2022.
EBRD Finance Summary
USD 50,000,000.00
Total Project Cost
USD 50,000,000.00
Additionality
Provision of additional trade finance limits.
Environmental and Social Summary
Categorised FI (ESP 2019): BIAT will be required to comply with PRs 2, 4 & 9, and further, implement and comply with the relevant EBRD's Environmental & Social (E&S) Procedures. New clients to EBRD are requested to complete and return the E&S due diligence questionnaire to ESD prior to Final Review submissionin order for ESD to assess compliance with the Performance Requirements. All FI clients will be required to submit annual environmental and social reports to the Bank.
Implementation summary
PSD last updated
31 Oct 2022
Understanding Transition
Further information regarding the EBRD’s approach to measuring transition impact is available here.
Business opportunities
For business opportunities or procurement, contact the client company.
For business opportunities with EBRD (not related to procurement) contact:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
For state-sector projects, visit EBRD Procurement:
Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
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 compliance@ebrd.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 ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.
