Proparco makes follow-on deal for Enda Tamweel

Proparco has announced is has made a follow-on investment in Enda Tamweel. Having originally backed the Tunisian microfinance institution in 2016 with a loan of €8 million in local currency, the French development finance institution is investing an additional €5.9 million (approximately $7 million) as part of a reserved capital increase of €24.3 million (or about $29 million). A consortium made up of five international investors joined the French DFI in investing in the deal.

The investment forms part of an initiative to support youth and entrepreneurship announced by the President of France, Emmanuel Macron. The funding will provide Enda Tamweel with the means to expand the volume of micro-credit capital available to micro-entrepreneurs in Tunisia, particularly women and people in the country’s rural areas. The increased capital will strengthen Enda Tamweel’s ongoing efforts to create and support jobs and investment, thereby helping to reduce economic inequalities and closing the gender gap.

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