Brussels, 18/10/2012 (Agence Europe) - On Tuesday 16 October, the Government of Luxembourg Directorate for Development and Cooperation and EIB launched a €4 million programme for supporting the development of the microfinance sector in Tunisia. The programme will be implemented by the NGO Appui au Développement Autonome (ADA) and will be rolled out over the next five years. This initiative received the support of the Trust Fund of the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), whose main objective is to support private sector development in the Mediterranean partner countries.
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. An EIB press release explained that this programme, “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”. (OL/trans/fl)