BTK SL (IFC-36720)

Countries
  • Tunisia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 15, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BANQUE TUNISO- KOWEITINNE SA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 43.87 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 40.00 million
Converted using 2016-01-15 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 1, 2018

Disclosed by Bank Dec 14, 2015


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

This project finances the expansion of Banque Tunisio-Koweitienne to enable the bank to extend its lending program in local currency to small and medium enterprises in a context where long term local currency financing is limited.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Banque Tuniso-Koweitienne was created in 1981 through an MOU between the Tunisian and Kuwaiti governments, with a goal to finance development projects in Tunisia with a specific focus on tourism projects. In 2004, it received a license to become a universal bank and started taking deposits. In 2008, Groupe BPCE purchased a 60% stake in BTK through its international division, Financière OCEOR, which later became BPCE International et Outre-Mer, while the governments of Tunisia and Kuwait kept a 20% stake each.

Groupe BPCE was formed in 2009 by the merger of the central institutions of the Banques Populaires and of the Caisses d’Epargne. Each network owns 50% of the central BPCE institution, which in turn owns 100% of BPCE IOM. The Group is present through its subsidiaries in Europe, Africa and Asia.

Contact Information

Banque Tuniso-Koweitienne
10 Bis, Avenue Mohamed V
1001 Tunis
Tunisia
Tel: +216 71 204 000
Fax: +216 71 253 182
Attention: Mr. Houssein Mouelhi, Chief Executive Officer

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/