Finance

Tunisia: Société Générale’s subsidiary gets $10M credit line from EBRD

Tuesday, 12 September 2017 13:56

The European Bank for Reconstruction and Development (EBRD) has granted a $10 million funding to Union Internationale de Banque (UIB), Tunisian subsidiary of French group Société Générale, so that it finances its external trade operations.

Support from the London-based institution will cover guarantee issuances by the Tunisian lender, for a maturity of up to three years, as well as its pre-export and post-export financing operations.

To the credit line will add training on external traded for UIB’s client companies. The latter will benefit from the bank’s expertise in terms of investment funding solutions, international trade transactions, and treasury management.

It should be recalled that on June 22, 2017, EBRD provided UIB another €40 million credit line with a 7-year maturity period to finance SMEs and medium-size companies.

Over the first half of 2017, the Tunisian bank recorded a net banking product of 134 million Tunisian dinars (10 dinars = $4.12) and a net result of 37.4 million dinars. The latter was up 16% as compared to H1 2016.

Chamberline Moko

On the same topic
• IMF extends Niger’s Extended Credit Facility (ECF) program by one year through December 2026.• IMF approves a $41 million disbursement tied to...
EBRD grants $100 million loan to Banque Misr to expand credit access for SMEs and women-led businesses. Loan supports Egypt’s green finance...
UTB’s restructuring delayed to end-2026 due to incomplete audits; reorganization plan expected by March. Despite a CFA 15.2B injection, the bank...
DRC launches campaign to diversify investors in government securities 98% of bonds now held by banks; aim is to reduce risk and broaden...
Most Read
01

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
02

• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...

WAEMU Sees Easing Conditions on Regional Interbank Market
03

• The U.S. imposed a 20% tariff on cashew exports from Vietnam and a 40% tax on suspected transshipm...

U.S. Tariffs on Vietnam Cashews May Disrupt Trade, Hit African Growers (Interview)
04

Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 mil...

Cauri Money Targets Cameroonian Diaspora with Digital Wallet Launch
05

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.