The European Bank for Reconstruction and Development (EBRD), a UK-based financial institution, recently announced that it is providing a senior unsecured loan of TND 25 million (USD 8.8 million) to Compagnie Internationale de Leasing (CIL), a Tunisian company that rents and leases industrial equipment and goods. The loan is intended to allow CIL to expand its leasing of equipment and other items to micro-, small and medium-sized enterprises (MSMEs). During 2015, CIL reportedly earned gross revenue of TND 40.8 million (USD 17.7 million).
This transaction was disbursed from a vehicle EBRD recently established specifically to offer funding in Tunisian dinars. Founded in 1991, EBRD has 65 shareholding countries as of 2017. EBRD focuses on “the promotion of private and entrepreneurial initiative.” In 2016, EBRD invested EUR 9.4 billion (USD 10.1 billion) in companies from 30 countries. In 2015, EBRD reported total members’ equity of EUR 14.6 billion (USD 15.7 billion).
By Phoebe Rorke
Sources and Additional Information:
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.