The Tunisian-Kuwaiti Bank (TKB) will channel a loan provided by the European Investment Bank (EIB) to Tunisian Micro-, Small-, Medium-sized Enterprises (MSMEs), TKB Director General has said.
In September, the EIB signed the loan agreement worth 20 million euro with TKB, and Tunis Entrepreneurship Network (TEN), a civil society association that assists entrepreneurs and small businesses in Tunisia, to finance MSEMs in the country, Houssein Mouelhi told a local radio station.
This is the first time the EIB cooperates with a national financial entity to offer financial services in collaboration with the civil society, to meet the needs of small investors, Mouelhi added.
Two million euro, 10 percent of the loan, will be directed to micro-sized enterprises which will enjoy a preferential interest rate, he noted.
TEN includes up to 130 businessmen who help micro-sized enterprises offering them small loans, and a ten-year sponsorship.