(Ecofin Agency) - The Bank of Tunisia is close to obtaining additional funding of $30 million from the European Bank for Reconstruction and Development (EBRD). This resource will be used to finance the activity of Tunisian import-export companies.
With this new contribution, the EBRD claims to have exceeded the trade financing limit for the Bank of Tunisia. The financing was provided under the EBRD's Trade Facilitation Program, which is designed to encourage foreign trade within the member countries of the European financial institution.
"The increase in trade financing provided to the Bank of Tunisia will help mitigate disruptions to trade and supply chains caused by current market conditions," the EBRD said in a statement.
At the end of Q3 2020, the Bank of Tunisia granted up to TNA4.7 billion in credits, up 7.1% compared to 2019.