The European Bank for Reconstruction and Development (EBRD) has granted a €2 million (equivalent to 6.5 million Tunisian dinars) loan to the Tunisian subsidiary of the Advans Group.
Poor access to finance and liquidity constrain the growth of many private businesses in Tunisia. Small and medium-sized enterprises (SMEs) are the backbone of the economy, accounting for more than 80,000 companies and 40% of the country’s GDP. Small firms employ more than half of the population while Tunisian micro-enterprises, which account to more than 1 million, contribute to the creation of about one million jobs.
The EBRD funds will help Advans Tunisie to increase its finance for small local enterprises, a segment that remains largely underserved. With a network of 15 branches across the country, Advans Tunisie offers loans to small businesses and farmers in urban and rural areas and focuses on providing financial advice and support to its clients with the aim of making its services available to all.
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