(Ecofin Agency) - Tunisia’s leasing company Compagnie Internationale de Leasing (CIL) has secured €12 million, or $13.3 million, from French development financial institution Proparco to finance its expansion.

This facility is part of the Choose Africa initiative, which aims to support nearly 10,000 small African businesses by 2022, with a total financial contribution of €2.5 billion from the French government. The facility granted by Proparco will be used to support local SMEs which account for more than half of all jobs in Tunisia.

As a reminder, Proparco recently supported another Tunisian leasing company, Tunisie Leasing et Factoring, with a credit line of 15 million euros ($16.6 million).

Chamberline Moko