EBRD, Enda Tamweel and Attijari Bank partner to support microfinancing in Tunisia
The European Bank for Reconstruction and Development (EBRD) is strengthening access to finance for Tunisian micro, small and medium-sized enterprises (MSMEs).
The Bank is providing Attijari Bank of Tunisia with an unfunded risk-sharing guarantee of 50 per cent on a loan to Enda Tamweel, the leading microfinance institution in the country. Under the EBRD’s Risk Sharing Framework (RSF), Attijari Bank of Tunisia is extending a loan of up to TND 20 million to Enda Tamweel for on-lending to local MSMEs which are its core customers and need financial support to cover their liquidity shortages due to the impact of the coronavirus pandemic.
The Covid-19 crisis is affecting Tunisian companies of all sizes, especially those that generate the majority of their revenues from the tourism, hospitality, services, transport and other heavily affected sectors.
Support for small business in the country is a priority for the EBRD in its work to strengthen the Tunisian economy. The Bank’s investments aim to support Tunisia’s competitiveness by opening markets and strengthening governance, promote economic inclusion for women, young people and those living in remote areas, strengthen the financial sector’s resilience and support Tunisia’s green economy transition.
Since the start of its operations in Tunisia in 2012, the EBRD has invested close to €1.2 billion across 52 projects there, and supported more than 1,200 SMEs through European Union-funded technical assistance to date.