Tunisia: SME Finance Bank has financed 1543 projects in 2014

msc-finance-imageThe Tunisian Bank for small and medium enterprises (BFPME) has announced on the 20th January that it has granted loans amounting to a total of 353.3 million Tunisian dinars ($ 185 million) in 2014.

This amount was used to finance 1,543 projects in for a total cost of 1.175 billion dinars according to a data published on the website of the institution.

The agribusiness sector has accounted for the lion’s share of funding with 79.5 million dinars (326 projects), followed by services (54 million dinars, 301 projects), chemicals and plastics industries (48.4 million, 142 projects) and building materials industries, ceramics and glass (39.2 million dinars, 113 projects).

With a capital of 100 million dinars, BFPME was created to facilitate the access of small and medium enterprises account for over 95% of the Tunisian business funding.

BFPME is a bank which covers all advisory, monitoring and funding dedicated to small and medium enterprises. It was incorporated in March 1st, 2005 with a registered capital of 100 million dinars. Its task is to provide assistance and support to facilitate creation and expansion of SMEs.

As part of a government decision in late 2008, the share capital of the BFPME was doubled from 50 to 100 million dinars. The initial registered capital of 50 million dinars was fully paid in 2007 and an extraordinary general meeting of the bank was held in February 24th, 2009, to implement the capital increase.

About Khalid Al Mouahidi 3696 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network