The European Bank for Reconstruction and Development (EBRD) said Wednesday it has provided a €24 million loan to “Tunisie Leasing and Factoring “to broaden access to finance for small and medium-sized enterprises (SMEs) in Tunisia”.
“The EBRD loan will allow Tunisie Leasing and Factoring to continue growing its network across the country and reaching SMEs in regions less well-covered by competitors. Supporting access to finance for SMEs has been identified as a strategic priority by both the government of Tunisia and the EBRD.”
“The company is particularly well-placed to use the EBRD’s funding and so encourage access to finance for an important sector of the Tunisian economy… in a country where access to funding and liquidity remains a serious constraint on their growth.”
There are over 80,000 SMEs in Tunisia; they are responsible for 40 per cent of GDP and employ more than half the population. The success of the country’s economy largely relies on the success of its small businesses, but access to funding and liquidity remains a serious constraint on their growth.
Since it began operations in Tunisia in 2012, the EBRD has invested €840 million across 38 projects in the country and provided technical assistance to nearly 800 SMEs, two thirds of which are in the regions.
The Bank’s investments aim to support Tunisia’s competitiveness by opening markets and strengthening governance, promote economic inclusion for women, young people and those living in remote areas, strengthen the financial sector’s resilience, and support Tunisia’s green economy transition.