Tunisia-based Attijari Bank will get EUR 40 million (USD 46.4m) in debt from the International Finance Corp (IFC) to support climate-related projects and smaller businesses.
The bank, part of the Attijariwafa bank Group, will also use the funds from the subordinated loan to improve its capital base and expand its lending activities, the IFC said this week. It noted this is its first loan for the Tunisian bank.
The financing will be offered to small and medium enterprises (SMEs) developing sustainable energy projects.
“Tunisia’s sustainable energy financing market is nascent but full of potential,” said Kudret Akgun, IFC manager of Financial Institutions Group for the Middle East and North Africa.
TunisianMonitorOnline (Renewables Now)