20 July 2016
The International Finance Corporation (IFC), member of the World Bank Group, Wesdnesday announced a 25 million euro credit line (about 61.3 MTD) for BTK (Groupe BPCE) to help extend loans to small and medium-sized enterprises (SMEs) and sustain economic growth in Tunisia.

"BTK will expand its outstanding loan portfolio among SMEs; the latter are often denied the loans they need to develop their business and generate jobs," IFC indicated in a press release. Roughly about 30% of micro, small and medium enterprises have no access to bank financing which slows down growth in Tunisia.

"The participation of the private sector is essential for boosting the Tunisian economy. Supporting financial institutions like BTK will help increase the amount of the capital made available for small enterprises, " said IFC Resident Representative for Tunisia Antoine Courcelle-Labrousse.

In 2015, IFC invested $60 mln in agribusiness, ICT, investment funds and microfinance to boost growth and job generation in the country, as part of a broader strategy to improve the business environment and strengthen investor confidence in the Middle East and North Africa, the press release further said.

© Tunis-Afrique Presse 2016