Access to Finance Remains a Major Challenge for Tunisian SMEs
According to the European Investment Bank (EIB) and European Union Survey
In the framework of the Trade and Competitiveness Programme, and in order to better understand the challenges related to access to finance in Tunisia, the European Investment Bank (EIB) is unveiling the second part of its survey, "EIB/EU Survey: Challenges of SMEs in Tunisia in 2025". Conducted among 150 Tunisian SME leaders from strategic value chains such as the automotive, agro-food, and textile industries, this survey highlights a telling reality: more than one in two SMEs still cannot access formal financing.
Representing 95% of the national entrepreneurial fabric, SMEs and VSEs significantly contribute to creating value and jobs when they have the necessary means.
SMEs Juggle Formal and Alternative Financing Solutions
Although financing is a crucial lever for the survival and growth of businesses, not all Tunisian SMEs have the same opportunities to access credit. In Tunisia, a significant portion of small and medium-sized enterprises continues to face difficulties in obtaining formal financing, hindering their development and competitiveness.
While 44% of leaders claim to have obtained a loan from a financial institution, 15% have been refused one, and 38% still resort to informal sources (relatives, friends, personal networks) to finance their activity. On the other hand, only 3% of respondents declare that they have never requested formal or informal financing, highlighting the need for Tunisian SMEs to obtain external financial support to support their activity and growth.
Harmonizing Local Banking Constraints with SME Needs
SMEs often face loan conditions that they find discouraging. Unfavorable interest rates (82%), excessively high guarantees required (52%), and complex procedures (53%) are among the main obstacles identified. Intangible obstacles, such as lack of support (30%) and insufficient information on available financing options (28%), also limit access to these devices.
The EIB is working closely with Tunisian banks to make the financial system more favorable to SMEs. Through the TCP, the EIB offers local financial institutions shared guarantee mechanisms aimed at reducing their risk exposure when financing investment projects carried by SMEs from strategic value chains.
A Direct Obstacle to Export Ambition
Beyond local activity, this lack of access to financing also acts as a brake on internationalization. According to the survey, 35% of Tunisian SMEs claim that the difficulty in obtaining credit directly limits their ability to export. Furthermore, 45% of those who manage to export do so on a limited scale, due to a lack of means to adapt to international standards, develop their logistics network, or invest in commercial prospecting.
"Even with solid international prospects, accessing credit remains a real challenge in Tunisia. The proposed financial solutions are rarely in line with the reality of local SMEs. We are asked for guarantees that we are not able to provide, and the applied rates often make financing inaccessible," testifies a Tunisian SME leader.
To address these structural blockages, the Trade and Competitiveness Programme offers tailored technical and financial support to unlock the investment potential of SMEs and strengthen their competitiveness in international markets. In Tunisia, the EIB is collaborating with UBCI and BH Bank to support SMEs from export-oriented value chains in their internationalization process.
Methodology
The EIB/EU survey, "Challenges of SMEs in Tunisia in 2025," commissioned by the European Investment Bank (EIB) and conducted by the Potloc survey institute, was carried out in May 2025 among 150 owners and/or managers of Tunisian SMEs, representative at the national level. The surveyed companies mainly belong to the productive fabric of the main export-oriented value chains targeted by the EIB's Trade and Competitiveness Programme, co-financed by the European Union. These value chains concern the agro-food, automotive, and textile sectors.
Note to Editors
The European Investment Bank (EIB) is a privileged partner of Tunisia for over 40 years. The EIB finances the development and implementation of key projects in essential sectors of the Tunisian economy, such as support for businesses, agriculture, water, and sanitation, education, health, transport, and renewable energy.
EIB Global, the specialized branch of the EIB Group, seeks to increase the impact of international partnerships and development financing. EIB Global aims to foster a stronger and more targeted partnership with Team Europe, alongside other development finance institutions and civil society. EIB Global brings the Group closer to populations, businesses, and local institutions through offices around the world.
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The EIB in Tunisia: https://www.facebook.com/BEIenTunisie/
The European Union
The European Union (EU) is an economic and political union of 27 European countries. It is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law, and respect for human rights, including the rights of persons belonging to minorities. It acts globally to promote the sustainable development of societies, the environment, and economies, so that everyone can benefit.
The European Union is the first investor and trading partner of Tunisia, with European companies already creating more than 400,000 jobs in the country. The cooperation covers a wide range of areas — trade, renewable energy, mobility and migration, education and opportunities for young people, rural development, and women's empowerment — reflecting our shared commitment to prosperity, stability, and opportunities for all. This year marks the 30th anniversary of the EU-Tunisia Association Agreement, a cornerstone of a strong and lasting partnership with the European Commission.
Since the signing of the Memorandum of Understanding on the Strategic and Global Partnership in 2023, the European Union has mobilized its financing instruments, including more than €600 million in grants in sectors such as energy, transport, and SMEs, supporting nearly €5 billion in investments.
The EU-Trade Competitiveness program in Morocco, Tunisia, Egypt, and Jordan (EIB component) is a joint initiative of the European Investment Bank (EIB) and the European Union aimed at improving access to finance and strengthening the competitiveness of local SMEs, to facilitate their integration into international markets, particularly European ones.
The program combines technical assistance and financial support to strengthen the integration of SMEs into priority export-oriented value chains — agro-food, textile, and automotive.
Technical assistance helps SMEs innovate, improve their competitiveness, and comply with European and international standards.
Financial support, implemented through local banks, provides long-term financing and guarantees to reduce the risks associated with SME financing.
