The European Bank for Reconstruction and Development (EBRD) today signed its first investment in the Tunisian financial sector, by providing a €40 million loan to BTK for on-lending to micro, small and medium sized-enterprises (MSMEs).
The loan is part of a financing package with BTK that also includes a US$ 10 million trade finance line, which is expected to be signed shortly.
Access to finance remains a challenge for a large number of Tunisian MSMEs, which represent the backbone of the country’s economy, and which have the potential to contribute significantly to economic performance and overall employment levels.
Francis Malige, the EBRD’s Director for Financial Institutions, said: “The EBRD is delighted that its first loan in the Tunisian financial sector is made in support of MSMEs, which are crucial for the sustainable development of the country’s real economy. Together with BTK, the EBRD will be able to reach out to the Bank’s growing MSME client base across Tunisia. This project will also provide further long-term funding to this sector, at a time when its access to finance remains limited.”
