TUNISIA – The US embassy has launched a financial US$35 million support scheme to Small and Medium Size Enterprises (SMEs) that have difficult access to loans to grow their activities in Tunisia.
The program will expand and accelerate commercial lending to SMEs which is critical to the success of Tunisian small businesses.
“This partnership showcases how the U.S. government is able to mobilize private capital resources for the direct benefit of small businesses and demonstrates our strong commitment to the growth and success of Tunisia’s private sector,” said U.S. Ambassador Blome.
Commercial financing is critical to the success of Tunisian small businesses, and USAID and DFC’s partnership with ATB will expand lending to borrowers that do not typically have access to bank loans.
To date, the U.S. government through USAID has helped about 30,000 small businesses to increase sales and exports to 1.5 billion TND, access about 500 million TND in new loans, and create more than 40,000 new jobs.
ATB has a network of 134 branches and employs more than 1,400 people. ATB developed a new commercial strategy, invested in human capital and client outreach, and implemented a rigorous process to expand and diversify its portfolio of clients.
“The DFC and USAID loan program for SMEs strengthens ATB’s capacity to lend to SMEs enabling us to support Tunisian small businesses, including women-owned businesses, and effectively contribute to inclusive economic growth,” said Mr. Rjiba, CEO of ATB.
The SME market is an area of growth, and ATB partnered with DFC and USAID to expand lending to SMEs nationwide.
DFC is also committed to increasing access to finance for SMEs across Tunisia and in underserved regions.