(Ecofin Agency) – Continuing its initiative to finance private companies and partner banks, the EBRD took an interest in Attijari Bank Tunisia, a financial institution which is increasing its support to private actors despite the context of the crisis.
The European Bank for Reconstruction and Development (EBRD) has entered into a risk-sharing mechanism with Attijari Bank Tunisia for an amount of 20 million euros (24.2 million $) which will allow the institution listed on the Tunis Stock Exchange to increase its loans to corporate clients.
For the local subsidiary of the Moroccan financial group Attijariwafa Bank, this guarantee is announced in a rather difficult context for private companies which are limiting their expansion projects because of the difficulty in mobilizing financing during this period of pandemic.
The risk-sharing mechanism proposed by the European financial backer is one of the three funding frameworks of its program recently set up to support the private sector and support businesses in their development.
Through this initiative, the EBRD will bear part of the risk on the loans that Attijari will grant to its clients. The Tunisian Bank eligible for this program granted during fiscal year 2020, credits for a total amount of 5.99 billion dinars, up 4.93% compared to their level during the same period. in 2019.