TL Senior Loan (IFC-41124)

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
Proposed
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
May 22, 2018
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
TUNISIE LEASING
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 3, 2018

Disclosed by Bank Mar 30, 2018


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Project Description

The proposed project consists of a senior loan type facility of up to US$30 million to Tunisie Leasing, for on-lending to small and medium enterprises (“SMEs”), including sustainable energy projects, in Tunisia.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Tunisie Leasing was founded in Tunisia in October 1984, with IFC being one of the founding partners along with STUSID Bank (ex Tuniso-Saudi Investment and Development Bank) and the French Credit Lyonnais offering leasing products in Tunisia. In 2004, Amen Group became the majority shareholder of the Company, with a 53.22% equity stake, through Amen Bank (32.48%), Comar (18.87%), PGI (0.96%) and SICOF (0.92%). The Company is listed on the Tunis Stock Exchange since 1992. Over the years, Tunisie Leasing expanded its activities in Tunisia in factoring, and in long-term leases through Tunisie LLD.

Contact Information

Tunisie Leasing Tunisia 
Mr. Mondher Zid 
Financial Director 
+216 31332068 

Avenue Hédi KARRAY, Centre Urbain Nord, 1082 Tunis 
www.tunisieleasing.com.tn 

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/