Tunisia - Hannibal Lease (Africa SME Program)


Project Summary

Approval Date 14 Jul 2017
Signature Date 30 Apr 2018
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 6,476,159.64
Status Implementation

Project General Description

This project, named "Hannibal Lease" for a € 8 million Line of Credit, is part of the Africa SME Program. This Africa SME Program is a 4-year USD 125 million program sponsored by the Bank to support local financial intermediaries’ (FIs) lending activities to SMEs in Africa. Specifically, It's expected to provide standardized lines of credit (LOCs) to at least 25 FIs for on-lending to SMEs. Beneficiary FIs could be banks or regulated non-bank financial institutions such as leasing and factoring companies, and microfinance institutions (MFIs). LOCs offered to MFIs are aimed at supporting their lending activities to SMEs (mainly to small enterprises) rather than micro-lending. In addition, the LOCs are expected to have a tenor of 4 to 7 years, a size ranging between USD 1 million and USD 9 million, and will be provided in local currency when possible. At least 65 per cent of the total available envelope targets low-income countries and fragile states.

Project Objectives

This Credit Line granted to Hannibal Lease (HL) aims to enable the development of its investment loan portfolio for Tunisian SMEs/SMIs, which dominate its customer base (95%). Hence, this line of credit should help HL to strengthen its competitive position on the financial leasing market for SMEs.

Beneficiaries

The direct beneficiaries of the project are local financial intermediaries (FIs) which could be banks or regulated non-bank financial institutions, such as leasing and factoring companies and microfinance institutions (MFIs). The final beneficiaries are SMEs.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-TN-HAB-005
Last Update 25 Jul 2019

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Contact Details

Email private-sector@afdb.org

Geographic Location

Country Tunisia