The Tunisian micro-finance institution Enda Tamweel has signed an agreement of a syndicated loan of an amount equivalent of EUR 60 million in Tunisian Dinars.
Enda Tamweel said “this loan will be used mainly to finance women, young people from disadvantaged neighbourhoods,agricultural sub-borrowers, education sub-borrowers and to improve the housing conditions of vulnerable populations. It will enable Enda Tamweel to expand its financing capacity and increase its number of borrowers”.
It will also enable the institution “to further anchor its social mission and support its clients affected by the coronavirus crisis”.
This is at the heart of our vision and our development plan to promote financial and social inclusion. In such circumstances, Enda Tamweel will keep its economic role, by preserving jobs, and working on the sustainability of the financed projects,” said Mohamed Zmander, CEO of Enda Tamweel.
For his part, Huib-Jan de Ruijter, Director Financial Institutions at FMO said ” Through this financing, Enda Tamweel and FMO are emphasizing their commitment towards financial and social inclusion in Tunisia,” recalling that 44% of Enda Tamweel’s portfolio is oriented towards beneficiaries in rural areas.
Enda Tamweel operates through a network of 96 branches and 5 mobile counters covering the entire Tunisian territory and supporting daily nearly 390,000 active customers for a credit outstanding exceeding 750 million dinars.
Since its creation, Enda has supported nearly 900,000 people and granted more than 3 million loans.