Central Bank of Tunisia and European Investment Bank Discuss Financing for SMEs and Micro-Enterprises
The Governor of the Central Bank of Tunisia, Fethi Zouhair Nouri, met with Jean-Luc Revéreault, Head of the European Investment Bank (EIB) office in Tunisia, on Wednesday, July 10, 2024. This meeting marked a significant step in designing a modern approach to financing and supporting Tunisian small and medium-sized enterprises (SMEs) and micro-enterprises.
The working session focused on the need to evolve access to financing for projects, whether public or private, with a particular emphasis on changing the paradigm in the use of financing lines. Two priorities emerged: continuing to support SMEs, considered the drivers of wealth creation and job creation, and innovating by setting up dedicated and adapted financing for micro-enterprises, contributing to their growth and sustainability.
According to Mr. Nouri, "it is fundamental to pay particular attention to SMEs operating in innovative sectors, particularly those carrying out projects in the field of environment and energy transition."
Following the meeting, the Central Bank of Tunisia and the EIB reaffirmed their commitment to collaborate to achieve these common goals and contribute to sustainable and inclusive economic growth efforts.
Ensuring Equal Access to Financing
Emphasizing the importance of supporting SMEs, Mr. Nouri stressed that it is "essential" to provide them with specific financial resources adapted to their size and needs, enabling them to develop and innovate. "SMEs are at the heart of the national economic fabric. They need adapted financial resources, and the Central Bank is determined to contribute to modernizing the approach to SME and micro-enterprise financing. The goal is to enable them to recover, grow, and prosper," he declared, highlighting the need for an innovative approach with new forms of financing line management to improve the eligibility rate of Tunisian economic entities.
Mr. Revéreault corroborated this assessment, underscoring the convergence of approaches between the two institutions. He reiterated the EIB's determination to support SMEs and micro-enterprises in Tunisia.
While expressing the EIB's determination to strengthen its collaboration with the Central Bank, Mr. Revéreault solicited the support of the Central Bank to facilitate access to financing for enterprises, particularly micro-enterprises. He deemed it essential to work together on Tunisian priorities and objectives to create a favorable environment for the full contribution of all enterprises, large and small, to the Tunisian economy.
Mr. Nouri, in turn, expressed the Central Bank's determination to consolidate all efforts of partners aiming to strengthen the Tunisian economy and offer better prospects for citizens. "We must create opportunities for all, and this begins by offering equal access to financing," he emphasized.
