The International Finance Corporation (IFC), a member of the World Bank Group that aims to support private-sector development, recently made a local currency loan equivalent to USD 7 million to the microfinance institution (MFI) Enda Inter-Arabe of Tunisia. The loan is intended to help the MFI reach 400,000 clients by the end of 2015 and double its loan portfolio to approximately USD 140 million. IFC will also assist the institution with capacity building by providing training in corporate governance and risk management.
IFC has worked with Enda Inter-Arabe since 2007 to provide small loans to micro-enterprises. As of 2011, Enda Inter-Arabe reported to MIX Market, the US-based microfinance information clearinghouse, total assets of USD 78.1 million, a gross loan portfolio of USD 72.4 million and approximately 200,000 active clients. As of 2011, IFC had 182 member countries, total assets of USD 68.5 billion and had mobilized USD 12.2 billion to 518 projects.
By Mihaela Grindeanu, Research Associate
About to Enda Inter-Arabe: Enda Inter-Arabe was founded in Tunisia in 1990. It is an international non-governmental organization, member of ENDA Third-World based in Senegal. It offers financial services such as loans and loan-insurance and non-financial services, like training in simple accountancy and marketing, excursions, exhibitions. get-together for networking, counseling (legal, health, social security, public services). As of 2011, Enda Inter-Arabe reported to MIX Market, the microfinance information clearinghouse, total assets of USD 78.1 million, a gross loan portfolio of USD 72.4 million and approximately 200,000 active clients. Enda Inter-Arabe does not take deposits.
About International Finance Corporation (IFC): A member of the World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2011, IFC has 182 member countries, total assets of USD 68.5 billion and USD 12.2 billion mobilized to 518 projects.
Sources and Resources:
IFC story: “IFC, Enda Inter-Arabe Support Microfinance in Tunisia, Creating Jobs and Promoting Growth”, http://www.ifc.org/ifcext%5Cpressroom%5CIFCPressRoom.nsf%5C0%5CE6FC34F9B193672185257A52003D9DC0
MicroCapital.org story, May 8, 2012: “MICROCAPITAL BRIEF: International Finance Corporation (IFC), Swiss Government Sponsor Workshops for Small and Medium-sized Enterprises in Egypt”, https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-swiss-government-sponsor-workshops-for-small-and-medium-sized-enterprises-in-egypt/
MicroCapital.org story, September 13, 2011: “MICROCAPITAL BRIEF: Access to Microfinance Boosting Youth Employment in Algeria, Morocco, Tunisia”, https://www.microcapital.org/microcapital-brief-access-to-microfinance-boosting-youth-employment-in-algeria-morocco-tunisia/
MicroCapital Universe Profile: Enda Inter-Arabe, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Enda+Inter-Arabe
MicroCapital Universe Profile: International Finance Corporation (IFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
MicroCapital Universe Profile: The World Bank Group, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=The+World+Bank+Group
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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