Tunisia’s “Union Bancaire pour le Commerce et l’Industrie” (UBCI) and Proparco, a subsidiary of the French Development Agency (AFD) dedicated to the private sector, signed on December 22, 2016 a senior credit line of €30 million aimed at supporting business development in Tunisia.
A long-time partner of the AFD group, UBCI, Tunisian commercial bank, signs with Proparco a new senior financing of €30 million.
In a context of renewed investment in Tunisia, this new line of credit should support UBCI as a medium- and long-term lender to businesses. 60% of the loans granted by the UBCI concern companies and 22% of the loans benefit SMEs, whose development is one of the priorities of Proparco and UBCI.
For Gilles Chausse, AFD Tunisia Director, this loan is part of the commitments made by the AFD Group at the Tunisia 2020 conference to dedicate €200 million to support Tunisia and Tunisian private players and reinforce the longstanding partnership between UBCI and the AFD Group.
UBCI has benefited from two Proparco financing for SMEs and AFD’s SUNREF program that supports sustainable energy investments.
Pierre Bérégovoy, UBCI Director General, said this funding demonstrates UBCI’s desire to strengthen its support for Tunisian companies and is part of its strong commitment to the development of the Tunisian economic fabric.