Tunis, Tunisia, April 15, 2014
—IFC, a member of the World Bank Group, is helping the Central Bank of Tunisia (BCT) make better use of its credit registry to improve financial stability and increase access to finance for micro, small and medium enterprises (MSMEs).
Over the past year, IFC assessed BCT’s credit registry and identified opportunities for BCT to better use the available data and expand access to finance. IFC’s support will help BCT strengthen banking sector supervision, and offer data services that will help banks better manage credit risk, a step towards boosting lending to MSMEs that often struggle to get the finance they need.
“With IFC’s support, we will be able to get more from the data we have, which will improve financial stability and expand lending practices, particularly to small businesses,” said Chedly Ayari,
Governor of Central Bank of Tunisia.
BCT’s credit registry is the main source of credit information in Tunisia. Effective use of this data is essential to help the financial sector reach out to underserved segments, such as entrepreneurs that need access to credit.
“Financial infrastructure development is a key priority for IFC, because it is crucial to facilitate access to finance for micro and small businesses, the main drivers of economic growth and job creation,” said Antoine Courcelle-Labrousse, IFC Resident Representative in Tunisia.
IFC has worked hard to restore investor confidence in Tunisia by investing over $100 million in the country since January 2011.
This project is funded by Switzerland’s State Secretariat for Economic Affairs under the MENA MSME Technical Assistance Facility, a joint initiative between IFC and the World Bank. The facility is also supported by the Canadian Department of Foreign Affairs, Trade and Development, the Danish International Development Agency, Japan, and UKaid.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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