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TunisiaEBRD issues financial package to Tunisia’s UBCI
The EBRD is providing a comprehensive financial package to Union Bancaire pour le Commerce et l’Industrie (UBCI), a commercial bank in Tunisia, to support the expansion of the local economy.
The package consists of a credit line for small and medium-sized enterprises (SMEs) for €30 million, a trade finance limit of up to US$ 10 million and a risk-sharing framework of up to €10 million.
The loan will be on-lent to SMEs to increase their access to much-needed funding. These businesses are the engine of the Tunisian economy, accounting for 90 per cent of all firms. They are therefore vital to provide jobs, build a modern diverse economy and to boost long-term, sustainable growth.
The trade finance limit will enable UBCI to engage in supporting exports and imports by Tunisian companies under the EBRD’s Trade Facilitation Programme (TFP).
UBCI is the first bank with which the EBRD has signed a risk-sharing facility in the southern and eastern Mediterranean (SEMED) region. Under this facility, the EBRD will take a portion of the risk of certain loans made by UBCI to companies operating in Tunisia. The facility allows the EBRD’s partner banks to increase the size of their lending to local firms.
The European Union (EU) is providing grant support for this transaction, as part of an overall €27.6 million in funding channelled through the EBRD to boost financial inclusion in the SEMED region.
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Countries covered:
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Tunisia
