Arab Tunisian Bank (ATB) recently acquired a guarantee in the amount of USD 22.75 million from the government-backed US International Development Finance Corporation (DFC) to support its local-currency lending to “inland and hard-to-reach” micro-, small and medium-sized enterprises (MSMEs) in Tunisia. The focus on inland areas is motivated by most financial services providers being located near the coast, where seven of Tunisia’s eight largest cities are located.
ATB has 131 branches and was founded in 1982 as a subsidiary of Arab Bank Group, which was founded in 1930 and is headquartered in Jordan. The group operates approximately 600 branches on five continents and reported total assets valued at USD 54 billion as of December 2020. As of December 2019, ATB had TND 7.15 billion (USD 2.5 billion) in total assets.
DFC was launched in 2020 to “help businesses expand into emerging markets, foster growth and improve lives in the developing world while reinforcing US foreign policy and national security interests.” The organization issues equity placements, insurance, technical assistance and research in areas such as “energy, healthcare, critical infrastructure and technology.” Upon its founding, DFC took over the work of the Overseas Private Investment Corporation (OPIC) as well as the Development Credit Authority of the US Agency for International Development. During 2020, DFC brought in net income of USD 232 million, closing the year with assets of USD 12 billion.
By Zachary DeLuca, Research Associate
Sources and Additional Resources
DFC press release
https://www.dfc.gov/media/press-releases/dfc-approves-21-new-investments-mobilizing-more-11-billion-tackle-development
ATB homepage
https://www.atb.tn/
ATB annual report 2019
https://www.atb.tn/rapports-annuels
Arab Bank Group homepage
https://www.arabbank.com/
Arab Bank Group financial statements
https://www.arabbank.com/mainmenu/home/investor-relations/financial
DFC homepage
https://www.dfc.gov/
DFC annual reports
https://www.dfc.gov/who-we-are-transparency/reports
Wikipedia data on cities in Tunisia
https://en.wikipedia.org/wiki/List_of_cities_in_Tunisia
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