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 its clients.
“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.
About IFC
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
Stay Connected
www.instagram.com\ifc_org
