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TunisiaEBRD boosts trade in Tunisia with $10 million trade finance line
The European Bank for Reconstruction and Development (EBRD) is helping Tunisia expand international and intra-regional trade by providing a US$10 million trade finance line to Union Internationale de Banques (UIB), a subsidiary of Société Générale.
The trade finance line will allow UIB to issue guarantees in favour of confirming banks and provide cash financing for pre-export and post-import financing as well as for local distribution.
Technical cooperation projects will accompany this trade finance facility, to transfer know-how and share best practices in trade finance.
Antoine Sallé de Chou, Head of the EBRD office in Tunisia, said: “We are very pleased to welcome UIB to our Trade Facilitation Programme (TFP), which will boost cross-border trade in the country, reaching out to Tunisian exporters and importers as well as contributing to overall economic growth.”
Launched in 1999, the EBRD’s Trade Finance Programme aims to promote foreign trade to, from and among the countries in which the EBRD invests. Through the Programme, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors.
Since September 2012, when EBRD operations began in Tunisia, the Bank has invested €364 million through 25 projects in the country.
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Tunisia
