The European Bank for Reconstruction and Development (EBRD) is providing Attijari Bank of Tunisia with an unfunded risk-sharing guarantee of 50% on a loan of up TND20mn ($7.3mn) to Enda Tamweel, the leading microfinance institution in the country, for on-lending to micro, small and medium-sized enterprises (MSMEs). The loans will be aimed at covering the liquidity shortages of local MSMEs brought about due to the impact of the coronavirus (COVID-19) pandemic.
The COVID-19 crisis is affecting Tunisian companies of all sizes, especially those that generate the majority of their revenues from the tourism, hospitality, services, transport and other heavily affected sectors.
Support for small business in the country is a priority for the EBRD in its work to strengthen the Tunisian economy, the multilateral bank said in a press release. The bank’s investments aim to support Tunisia’s competitiveness by opening markets and strengthening governance, to promote economic inclusion for women, young people and those living in remote areas, to strengthen the financial sector’s resilience and to support Tunisia’s green economy transition.
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