Microfinance institution Enda Tamweel has received funding of EUR 10 million, or about 22.8 million Tunisian dinars from the French Development Agency (AFD) to strengthen its lending activity dedicated to agriculture and livestock, the AFD announced last Friday.
The agreement on the funding signed by both sides on April 13, 2016 aims to “support the position of family farming in Tunisia in North-Western and Central-West regions where despite potential in microfinance agriculture, the financing offer remains low, “the statement said.
With a network of 79 branches located across the country and products “Mawsem” and “Méchia” specifically intended to small farmers, Enda, first microfinance institution in the country, has the resources and expertise needed for this kind of activity.
The concessional financing provided by AFD will enable Enda to refinance agricultural micro-entrepreneurs in line with its social inclusion mission.
The AFD credit line could benefit more than 40,000 direct recipients and 200,000 indirect beneficiaries.
More than 301,000 loans for the financing of agriculture and livestock have been granted by Enda in Tunisia since 2007.
In 2013, AFD signed a first financing agreement of EUR 2 million, or about 4.56 million dinars to enable Enda to serve more farmers in rural areas.