US provides $35 million for Tunisia SMEs

The US embassy launched Tuesday a financial support scheme worth $35 million in a favor of Small and Medium Size Enterprises (SMEs) that have difficult access to loans to grow their activities, Business News reports.

The US aid agency, USAID, is partnering with the Arab Tunisian Bank (ATB) and US International Development Finance Corporation on the scheme expected to increase access to loans for regions and borrowers who cannot easily access bank loans.

“Against the backdrop of Tunisia’s difficult economic situation, this initiative will facilitate $35 million in ATB credit to small businesses throughout Tunisia, with a particular focus on underserved areas. This partnership demonstrates the US government’s commitment to supporting Tunisia by mobilizing private capital resources for the benefit of small businesses and demonstrates our commitment to the growth and success of the Tunisian private sector,” said the US envoy Donald Blome at the launching ceremony.

The USAID has so far granted more than $173 million in form of loans to about 30.000 SMEs in the North African country, and has contributed to the creation of 40.000 jobs.

ATB is a Tunisian commercial bank that has set as mission to contribute to the economic and financial development of the country. The bank has 134 subsidiaries across the country and employs more than 1 400 people.