The French Development Agency (AFD) and the “Union Bancaire pour le Commerce et l’Industrie” (UBCI) signed a € 15 million credit line on Tuesday, February 14, 2017, according to a statement issued by the Bank.
The line of credit of AFD’s “green finance label” SUNREF is intended to support UBCI in its medium- and long-term lending activities in favor of investments by Tunisian companies in Energy efficiency, waste recovery and reduction of atmospheric, water and solid pollution.
The SUNREF program thus aims to support the transition of the Tunisian economy towards a more carbon-free and less polluting model.
The specific objectives of the program are to accompany the approach of financial institutions and Tunisian partners wishing to finance investment in energy control and pollution reduction, to contribute to the reduction of greenhouse gas emissions and to strengthen the competitiveness of the industrial sector.
Gilles Chausse, director of AFD Tunisia said this loan is part of the commitments made by the AFD Group at the Tunisia 2020 conference to dedicate 200 M € to the support of Tunisia and Tunisian private players in particular.
It reinforces the long-standing partnership between UBCI and the AFD Group. It participates in AFD’s financial support to the “Green Economy, pillar of sustainable development” axis, promoted by the new Tunisian five-year plan.
According to Pierre Bérégovoy, UBCI Director General, this funding demonstrates the UBCI’s desire to reinforce its support for Tunisian companies in favor of a green economy and is part of its strong commitment to the development of the economic fabric Tunisia.
Mr. Bérégovoy also underlined that this type of operation is part of a strong partnership policy between UBCI and international organizations that support the development of the Tunisian economy and affirms that other partnerships in favor of UBCI’s corporate clients, will be announced in the coming weeks.