The European Bank for Reconstruction and Development (EBRD) is giving the Tunisian microfinance institution Advans Tunisie the equivalent of $2.2 million in local currency to improve financing to SMEs.

The loan deal was signed yesterday January 9 in Tunisia and also includes technical assistance that will enable Advans Tunisie to strengthen its capacity to manage credit and operational risks.

According to the September 2019 data from the Tunisian Microfinance Supervisory Authority, outstanding microcredits granted by Tunisian microfinance institutions and microcredit associations recorded a growth rate of 26%, rising from 929.6 million Tunisian dinars at the end of September 2018 to 1,171.5 million Tunisian dinars at the end of September 2019.

Advans Tunisie is the local arm of Luxembourg group Advans and one of the nine microfinance institutions licensed in Tunisia where the SME world is represented by more than 80,000 companies and accounts for 40% of the GDP. It offers urban entrepreneurs and mid-sized companies loans of between 500 and 20,000 Tunisian dinars.

Chamberline Moko