€10 Million Loan to UBCI Under the Green Economy Financing Program
The European Bank for Reconstruction and Development (EBRD) has provided a senior unsecured loan of €10 million to Union Bancaire pour le Commerce et l'Industrie (UBCI), one of the major private banks in Tunisia. This loan agreement is one of the first to be signed under the EBRD's Green Economy Financing Program (GEFF) in Tunisia. UBCI will on-lend these funds to the Tunisian private sector, particularly to support micro, small, and medium-sized enterprises (MSMEs), which will help reduce gender inequalities in access to green financing. The program aims to support the transition to a green economy by increasing financing for low-carbon and climate-resilient technologies and services.
Technical Cooperation and Support
The program will be supported by a comprehensive technical cooperation program, funded by the EBRD and the European Union (EU), which will help UBCI develop, implement, verify, and monitor projects. The program will also promote equal access to climate finance for women and men by training UBCI staff and strengthening its capacities.
Incentive Grants and Risk Coverage
As part of this loan, the EU will also provide incentive grants to eligible sub-borrowers who have successfully implemented and verified their green investments, with the aim of encouraging MSMEs to adopt cutting-edge green technologies. This new financing is supported by the Currency Exchange Fund (TCX), a mechanism backed by the EU that promotes the growth of financial markets in developing economies and offers Tunisian banks reduced-price currency risk coverage.
Quotes from Key Stakeholders
Mark Davis, EBRD Director for the Southern and Eastern Mediterranean, said: "With this new loan under GEFF to UBCI, we celebrate a major milestone in our promotion of green investments together with TCX and the EU, in line with our approach to transitioning to a green economy. We are proud to strengthen our long-standing partnership with UBCI in supporting small businesses and increasing financing for greener projects." Mohamed Koubaa, UBCI General Manager, added: "By joining the EBRD's GEFF program, UBCI reaffirms its commitment to supporting the green economy and Tunisian businesses. This strategic partnership will enable us to better help our clients meet their financing needs for energy efficiency, renewable energy, and water conservation projects, which are so valuable in the current global context." Giuseppe Perrone, EU Ambassador to Tunisia, stated: "The European Union welcomes the signing of this new operation under GEFF, which demonstrates our strong commitment to accelerating Tunisia's green transition by reducing investment risks and expanding access to sustainable financing for local businesses. Together with the EBRD, the EU remains determined to help Tunisia turn its climate ambitions into projects that can attract financing, concretely supporting SMEs, energy efficiency, renewable energy, and water resilience."
About UBCI and EBRD
Founded in 1961, UBCI is headquartered in Tunis and has an extensive network of 102 branches across the country. The bank offers a wide range of products and services to individuals, professionals, and businesses, and is listed on the Tunis Stock Exchange. Since its inception in Tunisia in 2012, the EBRD has invested over €2.9 billion in 83 projects across the country, with 65% of these investments going to the private sector.
EU-Tunisia Partnership
The EU is Tunisia's largest investor and trading partner, with European companies supporting over 400,000 jobs. In 2025, we celebrated the 30th anniversary of the EU-Tunisia Association Agreement. Since the signing of the Strategic Partnership Agreement in 2023, the EU has mobilized over €600 million in grants, leveraging around €5 billion in investments in key sectors such as energy, transport, and SMEs.
