Four million Euros will be allocated to Tunisia within the framework of the “Micromed” project which targets, in its second phase, Morocco, Egypt, Jordan and Lebanon.
The European Investment Bank (EIB) has launched this initiative at a meeting Thursday in Gammarth. A relevant grant agreement will be signed, Friday, Oct. 12 with Tunisia.
Financed by Luxembourg cooperation and implemented by Luxembourg NGO ADA, the project will start by the end of this year and will run over the next four to six years.
“Micromed Tunisia” was created in response to a request for assistance from the Tunisian government in its efforts to develop the microfinance sector in Arab Spring countries.
According to EIB official Francesco Consiglio, 4 million Euros will fund the creation of an observatory of finance and the development of the financial system.