IFC (International Finance Corporation), a member of the World Bank (WB) group, has granted a loan equivalent to $ 8 million to Enda Inter-Arabe, the largest microfinance Institution in Tunisia to support local entrepreneurs and stimulate national economic growth, said a statement of the WB a copy of which reached Africanmanager.
This funding will enable Enda Inter-Arabe to increase its lending capacity to small entrepreneurs.
IFC also advises Enda on opportunities to improve its risk management process, corporate governance and diversify its range of products and services.
This extended collaboration will also enable Enda to serve a greater number of entrepreneurs who contribute largely to the Tunisian economy but nevertheless still face significant challenges in their search for funding to develop their business.
This agreement marks the third loan from IFC to Enda since 2007.
“Small businesses are an important source of jobs,” said Mouayed Makhlouf, IFC’s Director for the Middle East and North Africa. “By supporting local micro-entrepreneurs, we promote a diverse and inclusive growth in Tunisia. He added.
From June 2014 to June 2015, IFC committed $ 52 million to support Tunisian small and medium businesses, the new technology sector or also local agriculture and thus contributed to growth and to create jobs in the region.