Original disclosure @ EBRD website
Updated in EWS Nov 1, 2022
Disclosed by Bank Oct 26, 2022
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According to bank provided information, the investment involves the provision of a TFP line of USD 50 million to BIAT.
Banque Internationale Arabe de Tunisie (BIAT) is the largest commercial bank in Tunisia controlling around 15% of assets and 18% of deposits at December 2021. The bank operates through a large network of 206 branches across the country.
BIAT is majority owned by the Mabrouk group since the mid-2000s with a 38.6% stake as of 2022. Other shareholders are Tunisian groups: Milad group (13%), Tamarziste group (9.3%) and Horchani group (7.0%) while floating shares represented 32.1%. BIAT is listed on the Tunis Stock Exchange with a capitalization of EUR 938 million as of September 2022.
*Contact information not provided at the time of disclosure*
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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.
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