The European Bank for Reconstruction and Development “EBRD” and Attijari bank Tunisia have signed an agreement on a risk-sharing facility (RSF) for an amount of €20 million.
The two institutions also signed an International Swaps and Derivatives Association (ISDA) Master Agreement that will allow them to conclude future operations on financial market instruments.
The agreements, signed by Mr. Antoine Sallé de Chou, Head of the EBRD office in Tunisia and Mr. Said Sebti, Managing Director of Attijari bank Tunisia, aim to facilitate access to financing for small and medium enterprises in Tunisia.
Since the outbreak of the coronavirus pandemic, existing challenges to access funding and liquidity have become even more acute and further constraining the growth of many private businesses.
The RSF is one of three core financing frameworks of the EBRD’s Small Business Initiative a program dedicated to supporting and developing local private companies.
The EBRD offers partner banks funded or unfunded risk participation schemes in US dollars, euros or local currency, taking on a part of the risk of the sub-loans extended by partner banks to clients.
The framework agreement signed according to ISDA standards will allow both institutions to conclude transactions in market instruments in the future.
Through these agreements, Attijari bank Tunisia and the EBRD continue their commitment to actively contribute to the acceleration of the growth of small and medium enterprises to strengthen their role in vitalizing the national economy and creating jobs, said a statement from EBRD.
