Tunisian Central Bank (BCT) Governor and the directors of the 6 off shore banks

   A memorandum of understanding was signed on Friday December19th, 2008 by the Tunisian Central Bank (BCT) Governor and the directors of the 6 off shore banks operating in the country for the implementation of a credit line of 100 million euro in support of nonresident firms.

   The objective of this line is to encourage industrial and service firms to achieve their intention of investing in Tunisia and the firms which are already established in the country to start their extension plans in these times of crisis.

   Besides, this financing line is already operational and available.

   The concerned Small and Medium Sized Enterprises (SMEs) can be granted a financing line under three forms: it can take the form of a bridge loan, while waiting for raising the necessary resources; it can be a financing credit for new projects and the third possibility is a credit for the extension of the existing project’s capacity.

   As for eligibility requirements, they are those applicable by the concerned banks, namely taking into account the type of project and its economic and financial profitability.

   This financing line represents a preventive measure taken by Tunisia in order to make up for any risk of withdrawal, cancellation or even delay in the implementation of the announced FDI projects. Indeed, international monetary and financial markets have not yet returned to normal functioning, which naturally discourages investors and slows down FDI.