25 January 2013

Tunisia: IFC to Invest 48 Million Dollars to Promote Private Entrepreneurs

Tunis — The International Finance Corporation (IFC), a World Bank (WB) Group institution specialising in the private sector, announced "a 48-million-dollar investment meant to promote the development of private entrepreneurs in Tunisia."

According to a statement published on Thursday by the WB, at the end of the two-day-visit In Tunisia of WB President Jim Yong Kim (January 23-24), the IFC has signed with Amen Bank an agreement to help the smallest Tunisian enterprises and boost job creation in the country.

The IFC and two funds run by the IFC "Asset Management Company", will invest up to 48 million dollars in the capital of Amen Bank.

This partnership is expected to help Amen Bank extend its credit services to small enterprises which have frequently difficulties getting the necessary financing for their development.

This new investment will raise to 105 million dollars the financial aid granted by IFC to Tunisia since January 2011", the world bank said.

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