The European Bank for Reconstruction and Development (EBRD) signed a risk-sharing contract with Attijari bank Tunisia, under which the latter will lend TND 5 million to Laboratoires Teriak SA, it said Tuesday.
The loan will help it “acquire new machinery and equipment and to undertake maintenance work at its Jebel Ouest facility…”
“The funding will also complement investment by the manufacturer, leading to a modernization of production processes and enhanced productivity.”
Teriak will also “increase its energy and resource efficiency and install an automated energy management system at the facility.”
Supported by the Swiss State Secretariat for Economic Affairs (SECO) and Small Business Impact Fund (SBIF), the company will also benefit from the EBRD’s Skills in Business Program, helping to increase its human resource capacity to better attract, train and retain a skilled labor force to support their growth trajectory.
The collaboration underscores the EBRD and Attijari bank Tunisia’s commitment to supporting Tunisian companies through the partnership they established in 2020. It also reaffirms the importance of companies to Attijari bank Tunisia’s development strategy.
Founded in 1996, Laboratoires Teriak S.A. is a leading Tunisia manufacturer of pharmaceutical products. It manufactures medicines under licence for leading multinational corporations and has developed a range of quality generic products, focusing on therapeutic areas such as cardiology, neuropsychiatry, gastroenterology and oncology.
Since it started operating in Tunisia in 2012, the EBRD has invested more than €1.4 billion in 57 projects across the country and supported more than 1,600 SMEs through European Union-funded technical assistance, it reminded in the statement.