EBRD increases trade support in Tunisia
23-10-2020 07:58:46 | by: Pie Kamau | hits: 2875 | Tags:

The European Bank for Reconstruction and Development (EBRD) is stepping up its efforts to support the Tunisian economy by increasing an existing trade finance limit for Banque de Tunisie from $20 million to $50 million to help domestic exporters and importers to continue their business activities during the coronavirus pandemic.

The extension comes under the EBRD Trade Facilitation Programme (TFP), which is dedicated to promoting foreign trade to, from and within the economies where the EBRD invests. Keeping trade flowing in the current crisis is vital for the global economy. Responding to huge demand, the EBRD has expanded its trade finance limit to €3 billion for 2020 alone.

The increase in trade finance provided to Banque de Tunisie will help mitigate the disruptions to trade and supply chains caused by current market conditions. The EBRD is working with five Tunisian partner banks, whose combined trade finance limits exceed $100 million.

Since the start of its operations in Tunisia in 2012, the EBRD has invested €945 million across 46 projects there and provided technical assistance to nearly 1,200 small businesses, two-thirds of which are located in the regions of the country.