EBRD partners with Attijari bank Tunisia to support the pharmaceutical sector
18-05-2022 08:29:00 | by: Pie Kamau | hits: 2851 | Tags:

The European Bank for Reconstruction and Development (EBRD) is facilitating access to finance for Tunisian Laboratoires Teriak, through a risk-sharing facility with Attijari bank Tunisia. This collaboration underscores the EBRD and Attijari bank Tunisia’s commitment to supporting Tunisian companies through the partnership they established in 2020. It also reaffirms the importance of companies to Attijari bank Tunisia’s development strategy.

Under the EBRD’s Risk Sharing Framework (RSF), Attijari bank Tunisia will lend TND 5 million to Teriak, to acquire new machinery and equipment and to undertake maintenance work at its Jebel Ouest facility. The funding will complement investment by the manufacturer, leading to a modernisation of production processes and enhanced productivity.      

Teriak will also increase its energy and resource efficiency by renovating its wastewater treatment unit and steam boiler, and by installing an automated energy management system at Jebel Ouest. The pharmaceutical industry is an important and growing sector for many economies worldwide and one of the fastest-growing industries in Tunisia.

Supported by the Swiss State Secretariat for Economic Affairs (SECO) and Small Business Impact Fund (SBIF), Teriak will also benefit from the EBRD’s Skills in Business Programme, helping to increase its human resource capacity to better attract, train and retain a skilled labour force to support their growth trajectory.

Founded in 1996, Laboratoires Teriak is a Tunisia manufacturer of pharmaceutical products. It manufactures medicines under licence for leading multinational corporations and has developed a range of quality generic products, focusing on therapeutic areas such as cardiology, neuropsychiatry, gastroenterology and oncology.

Support for small business 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 bolstering governance, promoting economic inclusion for women, young people and those living in remote areas, strengthening financial-sector resilience and supporting the green economy transition.

Since it started operating in Tunisia in 2012, the EBRD has invested more than €1.4 billion in 57 projects across the country and supported more than 1,600 SMEs through European Union-funded technical assistance.