FIF - CIL - SME Loan II (EBRD-52011)

Countries
  • Tunisia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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
Jun 30, 2020
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
Compagnie Internationale de 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)
$ 5.62 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 5
Converted using 2020-06-30 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 11, 2020

Disclosed by Bank Jul 7, 2020


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Project Description

According to bank provided information, this project was approved in the context of the Bank's response to the COVID-19 pandemic.  To avoid delays to the delivery of this project, the Bank's President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. Details of the Bank's response to COVID-19, and this deviation, can be found on our website.

The investment involves the provision of a EUR 5 million loan to Compagnie Internationale de leasing  ("CIL") for on-lending to micro, small and medium-sized enterprises (MSMEs) in Tunisia. 

The proposed project targets MSMEs in Tunisia, which are the core of the Tunisian economy, but remain underserved by the banking sector. In the context of the current COVID-19 crisis, the proposed project will support CIL in addressing the funding needs of the local MSMEs' for capex purposes.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
Contact Information

Mourad Kallel
kallel.mourad@CIL.FIN.TN
16 avenue Jean Jaures, 1001 Tunis, Tunisia

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.