African Development Bank supports access to finance for SMEs in Tunisia
20-11-2019 07:52:00 | by: Pie Kamau | hits: 6365 | Tags:

The African Development Bank launched the "Investia Enterprise" program to strengthen the dynamics of financial inclusion for Tunisian small and medium enterprises (SMEs).

This operation is the result of a partnership between the United Kingdom and the Tunisian Ministry of Finance, mobilizing, around the Tunis Stock Exchange, all players in the country's financial ecosystem. The objective of this pilot program is to facilitate access to non-bank financing for more than 120 SMEs.

This operation will be implemented in two phases: after a pre-selection, "Investia Enterprise" will accompany the selected operators in the elaboration of their business plan in order to raise funds from the capital markets.

"I am convinced that we must continue to support the Tunis Stock Exchange to be able to offer more innovative financing solutions to the wide range of Tunisian economic operators," said the head of the Tunisian Securities Exchange. Tunisian government, Youssef Chahed.

"Through Investia Entreprise, we are renewing our commitment to support the development of SMEs.  Together with the Tunisian government, we are determined to remove all constraints that affect the development potential and growth of the country's private sector," confirmed Mohamed El Azizi, Director General of the African Development Bank for the North Africa region.

"This launch celebrates the success of tripartite cooperation for the benefit of the Tunisian private sector.  We are proud of our partnership with the African Development Bank in such a strategic area for the development of the country," said Britain's ambassador to Tunisia, Louise De Sousa.

By facilitating access to finance for SMEs, which alone represent 97% of the Tunisian economic fabric, the Bank is promoting a new job-creating dynamic for young people and women in the country.

The institution thus consolidates its support to Tunisia in this area with the launch in 2019, or three new operations improving financing conditions for economic operators for a total amount of 270 million euros.

The partnership between the African Development Bank and Tunisia has covered the energy, water, transport, agriculture, social development and technology sectors for almost half a century. information and communication.