The Board of Directors of the African Development Bank Group has approved a $50 million trade finance guarantee facility for Banque Internationale Arabe de Tunisie (BIAT) to enhance trade and economic resilience in Tunisia.
The guarantee will support the import of production inputs, industrial machinery, as well as telecommunications and renewable energy equipment essential to advancing Tunisia's industrialization agenda. While the facility primarily targets the agro-industrial and light manufacturing sectors, it will also help finance the import of essential goods to meet immediate domestic needs.
According to Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank Group, "This facility will allow the African Development Bank to provide up to 100% guarantee coverage to confirming banks, thereby facilitating the confirmation of letters of credit and other trade finance instruments issued by BIAT on behalf of local corporates and small and medium-sized enterprises, including women-led businesses."
Malinne Blomberg, the Bank's Deputy Director General for North Africa and Country Manager for Tunisia, highlighted the initiative's impact on economic transformation: "By supporting the import of inputs, equipment and industrial machinery that fuel the growth of the manufacturing sector, this facility contributes to job creation and economic diversification through private sector development."
Elyes Jebir, Chief Executive Officer of BIAT, welcomed this first direct partnership with the African Development Bank. "This collaboration aligns perfectly with BIAT's strategy, which places international trade finance at the core of its operations in Tunisia. The facility will enhance our ability to support a broad base of Tunisian companies and strengthen their integration into global markets," he stated.
This engagement further consolidates BIAT's position as a key player in Tunisia's economic ecosystem, built on sound governance, proven local expertise, and a broad network of strategic partners.
The three-year facility will benefit large corporates and SMEs, with a strong focus on supporting women-led enterprises.
About the African Development Bank Group's Trade Finance Guarantee
The Trade Finance Guarantee is one of several trade finance instruments offered by the African Development Bank to support commercial banks operating in Africa. Launched in 2021, the guarantee covers a variety of trade finance products, including confirmed letters of credit, trade loans, irrevocable reimbursement undertakings, avalized drafts and promissory notes. The facility is open to all banks registered and operating in Africa that have successfully completed the Bank's due diligence process.
About Banque Internationale Arabe de Tunisie (BIAT)
BIAT is a leading universal bank in Tunisia, forming a robust financial group with subsidiaries in insurance, asset management, private equity, brokerage, and advisory services. With a network of 206 branches across the country, BIAT serves more than 2,400 clients, including individuals, professionals, SMEs, large corporate and institutional customers.
BIAT plays a significant role in trade finance, leveraging a wide correspondent banking network to actively contribute to building a dynamic, resilient, and inclusive Tunisian economy. The Bank is deeply committed to its social responsibility, as evidenced by the creation of the BIAT Foundation for Tunisian Youth in spring 2014, a long-term commitment to civic engagement.
