European Bank for Reconstruction and Development (EBRD) has granted EUR 5 million (around $5.54 million) loan to Tunisian leasing company Compagnie Internationale de Leasing (CIL).

The loan will help CIL to fund small businesses in Tunisia, according to a statement released on Tuesday.

Owned by a group of local investors, CIL is one of the five largest leasing companies in the North African country

Micro, small and medium-sized enterprises (SMEs) account for 40% of Tunisia’s GDP and hire 50% of the population.

Since the start of its operations in Tunisia in 2012, the EBRD has invested EUR 874 million across 42 projects and provided technical assistance to about 1,000 SMEs in the country.

Source: Mubasher

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