The European Bank for Reconstruction and Development (EBRD) said it has provided Attijari bank a risk-sharing guarantee for 50% of a loan awarded to Compagnie Internationale de Leasing (CIL), one of the leading leasing companies in Tunisia, it said.
The joint EBRD-Attijari Bank action aims to enhance access to funding for Micro-, Small- and Medium-sized Enterprises (MSMEs).
The CIL will grant some of this funding to women-led MSMEs. These enterprises will also be provided with a technical assistance.
The loan contracted by CIL, one of the first leasing companies in Tunisia, is expected to help it in turn grant credits to local MSMEs, which are among its main clients who need financial support to cover their liquidity shortages due to the fallout of the COVID-19 pandemic, the EBRD indicated.
The loan is supported by the European union (EU) as part of its Southern and Eastern Mediterranean (SEMED) MSME Financial Inclusion Program with the aim to improve the financial inclusion for MSMEs in SEMED region in a sustainable manner through indirect financing (loans and equity investment facilities), transfer of market know how (capacity building to local PFIs (participating local institutions) and MSMEs), and policy dialogue in order to actively support the development of MSMEs financing policies.
