ENDA TAMWEEL MICROFINANCE LOAN

Promoter – Financial Intermediary

ENDA TAMWEEL SA

Location

• Tunisia

Description

Synthetic local currency loan to fund microfinance activities of ENDA TAMWEEL, a microfinance company in Tunisia.

Additionality and Impact

A large portion of the population in Tunisia has limited access to finance, particluarly vulnerable groups such as women, youth, micro-entrepreneurs and population living in rural areas. This new operation with Enda Tamweel is a good opportunity to contribute to fight against powerty by supporting financial inclusion of these groups and helping them to grow. Microfinance Institutions face shortage of liquidity in Tunisia and have limited local sources of funding (not allowed to take deposits and no access to the Central Bank refinancing mechanism). External sources of funding is crucial for Microfinance Institutions such as Enda. With this synthetic loan in Tunisian Dinar, the EIB will fill in this market gap by providing affordable resources in local currency with a long tenor .

Objectives

This synthetic local currency loan aims at supporting microfinance activities of ENDA TAMWEEL in Tunisia and promoting access to finance for micro/small enterprises specifically targeting women, youth, refugees and poor populations living in rural areas.

Comments

Project information for publication has been shared with ENDA on 26th July. The publication will be requested once operation approved by MC.

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 9 million

Total cost (Approximate amount)

not applicable

Environmental aspects

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Status

Signed - 9/12/2021