Finance

Tunisia’s CIL secures $5.5 mln EBRD expansion loan

Wednesday, 04 December 2019 10:23
Tunisia’s CIL secures $5.5 mln EBRD expansion loan

(Ecofin Agency) - Tunisia’s leasing company Compagnie International de Leasing (CIL) has secured a €5 million ($5.5 million) expansion loan from the European Bank for Reconstruction and Development (EBRD).

CIL will use the resources to strengthen its activity in financing SMEs which employ more than half of the population but still struggle to access funding. In H1 2019, the company saw an improvement in its activity indicators with net leasing product (NLP) up 5% to TND14.3 million, a 9.23% increase in its net leasing income with better managed operating expenses. However, the cumulative net leasing product of the eight leasing companies operating in the country fell by 13.4% in the first half of 2019.

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