EIB, the Government of Luxembourg and ADA launch microfinance initiative MicroMed in Tunisia – October 12, 2012

On October 12, 2012 the European Investment Bank (EIB) and the Government of Luxembourg Directorate for Development and Cooperation launched a EUR 4 million program for supporting the development of the microfinance sector in Tunisia. The program will be implemented by Appui au Développement Autonome (ADA) and will be rolled over the next five years.

According to a press release issued by the EIB. “The MicroMED Tunisia programme was established in response to a call for assistance from the Tunisian Administration in its endeavour to develop the microfinance sector after the Arab Spring. The programme will aim at improving the regulatory environment and the ability of microfinance institutions to grow responsively. It will provide capacity building to microfinance institutions, increase transparency of the sector and facilitate the emergence of relevant inclusive financial products, especially for young entrepreneurs. This will prepare the ground for future equity and debt operations in Tunisia.”

To read the press release, please click here.