Tunis, Tunisia, October 9, 2018—IFC,
a member of the World Bank Group, is providing a €40 million subordinated
loan to Attijari bank Tunisia, a leading private bank in Tunisia, part
of the Attijariwafa bank Group, to help strengthen its capital base and
grow its lending operations.
IFC’s first loan to Attijari bank Tunisia
will help increase its volume of long-term financing for climate-related
projects and smaller businesses. The bank has been a pioneer in developing
green financing to finance investments such as photovoltaic units, waste
treatment plants, and energy efficiency projects, supporting government
efforts to boost renewable energy and cut energy intensity.
With the current economic situation,
increasing the lending capacities of private financial institutions will
help local businesses grow and create much needed jobs, which will also
support the Tunisian economy.
“With this new lending capacity and
through our proximity and ability to assess customer requirements and respond
to them, we will be able to extend our reach to small and medium businesses
to advise them on sustainable energy financing and help them expand,”
said Hicham Seffa, the CEO of Attijari bank Tunisia.
IFC and Attijari bank Tunisia initiated
their partnership in 2017 with an advisory project on digital services
to create new products and increase access to the bank’s offerings for
“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. “IFC
is committed to supporting private financial institutions in the region
that help develop their clients’ businesses while complying with the climate
change agenda. This is vital to build a more resilient future for the planet
while increasing shared prosperity.”
IFC’s investment also reinforces its
commitment to support the cross-border investments of financial institutions
as they aim to expand in the region and boost financial inclusion.
IFC—a sister organization of the World
Bank and member of the World Bank Group—is the largest global development
institution focused on the private sector in emerging markets. We work
with more than 2,000 businesses worldwide, using our capital, expertise,
and influence to create markets and opportunities in the toughest areas
of the world. In
fiscal year 2018, we delivered more than $23 billion in long-term financing
for developing countries, leveraging the power of the private sector to
end extreme poverty and boost shared prosperity.
For more information, visit www.ifc.org
Attijari bank Tunisia
Attijari bank Tunisia is a universal
bank. It offers a wide range of products and services to meet with retail,
corporate and institutional clients’ needs. With the largest banking network
in Tunisia (207 Branches across the country), it provides solutions tailored
to suit the specific requirements of its customers across capital markets,
securities services, financing asset management, international banking,
brokerage, treasury, financial advisory, leasing and Life insurance.
Attijari bank Tunisia is part of the
Attijariwafa Bank Group, the largest banking and financial group in the
Maghreb and the West African monetary zone (WAEMU) regions and a leading
player in the Central African monetary zone (CAEMU) region; it operates
in 26 countries in Africa, Europe and Asia and reaches over 9.1 million
customers; visit www.attijaribank.com.tn