MICROCAPITAL BRIEF: EBRD, EU Scale Up Support for Small, Medium-Sized Businesses in Tunisia with Donation of $11m

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, recently announced that it is increasing its support of small and medium-sized enterprises (SMEs) in Tunisia. The European Union (EU) through the Programme d’Appui à la Compétitivité des Services (PACS) is providing EUR 10 million (USD 11.3 million) to the initiative.

EBRD will work with the Tunisian government to provide advisory services and technical support to 475 SMEs, at least 80 of which are to be women-led ventures, emphasizing support of the service sector, specifically information and communication technology, transport and logistics, professional services, tourism, and handicrafts.

EBRD began investing in Tunisia in 2012. As of 2015, it has provided EUR 250 million (USD 281.9 million) for 17 projects and technical support to approximately 150 SMEs in the country. EBRD invested EUR 8.9 billion (USD 10.1 billion) in 377 projects in 34 countries during 2014, and as of December of that year it reported total members’ equity of EUR 14.2 billion (USD 16.1 billion).

By Jared Deveau, Research Associate

About European Bank for Reconstruction and Development (EBRD)

The European Bank for Reconstruction and Development (EBRD) is a multilateral institution headquartered in London, England. The bank began operations in 1991 upon the agreement of 40 countries, and is owned by 64 countries as well as the European Investment Bank and the European Union as of 2014. It aims to finance operations that are both commercially viable and assist development in Eastern Europe, Central Asia and North Africa. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). EBRD invested EUR 8.9 billion (USD 10.1 billion) in 377 projects in 34 countries during 2014, and as of December of that year it reported total members’ equity of EUR 14.2 billion (USD 16.1 billion).

Sources and Additional Resources

European Bank for Reconstruction and Development: EBRD and EU Scale Up Support for Small Businesses in Tunisia,
http://www.ebrd.com/news/2015/ebrd-and-eu-scale-up-support-for-small-businesses-in-tunisia.html

MicroCapital Universe Profile: European Bank for Reconstruction and Development,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29

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