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EBRD grants Tunisia EUR40m loan

EBRD grants Tunisia EUR40m loan
Photo Credit: Arabianeye-Reuters

The European Bank for Reconstruction and Development (EBRD) is supporting small firms in Tunisia by providing a €40 million loan to UBCI, for on-lending to micro, small and medium sized-enterprises (MSMEs).


 
The EBRD’s credit line to UBCI will facilitate access to long-term funding for MSMEs. Such funding remains limited even though these firms are crucial for the sustainable development of the country’s real economy.


 
Marie-Alexandra Veilleux, Head of EBRD office in Tunisia, said: “MSMEs are the key driver of Tunisia’s economic transition and the main vehicle of job creation. Supporting their expansion is one of our core priorities in the country. Through this new financing, we foster the development of the private sector and make it more sustainable.”


 
Sylvia Gansser-Potts, EBRD Director, Financial Institutions, Southern and Eastern Mediterranean and Turkey, said: “We are delighted to initiate a relationship with UBCI, which will enable the EBRD to reach more MSMEs across Tunisia. The signing of this loan in December 2014 was a further step towards supporting the country’s financial sector; it is the fifth loan we have signed with a Tunisian financial institution in 2014, bringing the combined total to €110 million.”