(Ecofin Agency) - Tunisian microfinance institution Enda Tamweel concluded a syndicated loan agreement worth $65.7 million with the Dutch Development Bank FMO. The loan is denominated in local currency.

Enda Tamweel will use the facility to strengthen support to SMEs, particularly those operating in rural areas which represent 40% of the institution’s portfolio. According to Chairman Mohamed Zmandar, this agreement is a first of its kind in the Tunisian microfinance sector and reflects the interest and confidence in the microfinance institution internationally.

In 2018, Enda Tamweel granted about 346,736 loans for a total amount of TND812.5 million. Its customer base consisted mainly of companies operating in the agricultural and commercial sectors. In that same year, the company welcomed six new foreign investors, mainly development financial institutions.

Enda Tamweel has a network of 96 branches with nearly 390,000 active clients.

Chamberline Moko