Tunisia - Financial Sector Modernisation Support Programme II - (PAMSFI II) (AFDB-P-TN-HZ0-005)

Countries
  • Tunisia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 15, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Tunisia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 132.08 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AFDB website

Updated in EWS Sep 11, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Acording to bank documents, the proposed operation is a EUR 120 million loan to the Republic of Tunisia to finance the Financial Sector Modernisation Support Programme II (PAMSFI II). It is in line with the Bank's strong commitment to support the Tunisian Government in the implementation of its general policy vision as set out in the 2016-2020 Strategic Development Plan (SDP). PAMSFI II will be implemented over the period 2018-19, and is a vehicle for support to the Bank's other operations in Tunisia. Therefore, its impact will consolidate the achievements of PAMSFI I and other policy-based programmes aimed at improving regional development and job creation. Indeed, these programmes support regional structures, the business framework in the regions as well as youth employability, whereas PAMSFI will provide complementarity on the supply side of financing by targeting project proposers and VSME. PAMSFI II comprises two complementary components. The first component aims at reducing social, territorial, regional and gender disparities through better financial inclusion. The second component aims at building the financial sector's resilience and developing capital markets to ensure efficient financing of the economy.

The goal of PAMSFI II is to create the necessary conditions for accelerated, resilient and inclusive economic growth by strengthening the financial sector's role in financing the economy and vulnerable segments of the population. In particular, it aims to support the emergence of a new development model for Tunisia, in which the private sector can develop and generate employment throughout the country, and where disadvantaged segments of the population can contribute to, and benefit from, growth. The Programme's specific objectives are to strengthen and deepen financial sector governance by improving access by the population and businesses to diversified financial services.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

MAHAMOUD HOUSSEIN Ismail
i.mahamoudhoussein@afdb.org 

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/ 

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