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    Reference: 20170334
    Release date: 19 April 2017

    Promoter – Financial Intermediary

    TUNINVEST FINANCE GROUP SA

    Location

    Description

    Equity participation in a generalist closed-end private equity fund targeting mainly growth capital investments in small and medium-sized private companies across Tunisia, Morocco, Algeria and Egypt.

    Objectives

    The main project objectives include: supporting the development of the private sector, primarily in North Africa, by increasing access to risk capital for local small and medium-sized companies, and contributing to the European Commission's economic and social development priority under the European Neighbourhood Policy (ENP) Action Plan, by supporting the reduction of unemployment and poverty.

    Comments

    The project falls under the Risk Capital Facility for the Southern Neighbourhood countries, financed by the Bank and the European Union (acting through the Neighbourhood Investment Facility).

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    EUR 15 million

    Total cost (Approximate amount)

    EUR 200 million

    Environmental aspects

    The fund will operate in line with the EIB's environmental and social standards.

    Procurement

    The procurement will be in line with EIB guidelines for private sector projects.

    Status

    Signed - 29/11/2017

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Mediterranean Countries Services