European Bank issued the following announcement on Nov. 27.
The EBRD and the EU are joining forces to boost the Tunisian small and medium-sized enterprise sector with a new framework that combines financial and advisory support.
Elec’ Recyclage Tunisie, a Tunisian company operating in the collection and recycling of non-hazardous industrial waste, will directly benefit from the Value Chain Competitiveness Programme with a €1.1 million EBRD loan, technical assistance and an EU grant of up to €118,000.
Elec’ Recyclage Tunisie will use the funds to invest in new equipment to expand its activities and recycling capacity. New technology will also help create more value and efficiency during the recycling process, as well as better working conditions for employees by reducing of noise levels and introducing more efficient workflows.
The programme will help to reduce the amount of industrial waste sent to landfill or openly dumped and will improve Tunisia’s waste management capacity in general.
The EBRD launched the Value Chain Competitiveness Programme for Egypt, Jordan, Morocco and Tunisia in 2017. The EU-funded programme provides eligible companies with access to investment grants and advisory services in a range of sectors, including agribusiness, manufacturing and services, logistics and distribution, and information and communication technologies.
The agreement with Elec’ Recyclage Tunisie will be the second project supported under the programme in Tunisia. Elec’ Recyclage Tunisie offers waste-handling solutions to over 100 companies in Tunisia. In addition to waste management, the firm also sells to foreign customers sorted waste products for further processing.
Since the start of its operations in Tunisia in September 2012, the EBRD has invested over €732 million across 33 projects in the country. The Bank’s investments aim to support the restructuring and strengthening of the financial sector and the financing of private enterprises, supporting energy efficiency and developing a sustainable energy sector, as well as facilitating non-sovereign financing for infrastructure development.
To date, the Bank has also supported 670 small and medium-sized enterprises in the country with business advisory services through its dedicated Advice for Small Businesses programme.
Original source can be found here.