Tunisia - Financial Sector Modernisation Support Programme II - (PAMSFI II)


Project Summary

Approval Date 15 May 2019
Signature Date 13 Jun 2019
Planned Completion Date 31 Dec 2020
Last Disbursement Planned Date 31 Dec 2019
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 98,229,414.8
Status Implementation

Project General Description

The proposed operation is a EUR 120 million loan to the Republic of Tunisia to finance the Financial Sector Modernisation Support Programme II (PAMSFI II). It is in line with the Bank's strong commitment to support the Tunisian Government in the implementation of its general policy vision as set out in the 2016-2020 Strategic Development Plan (SDP). PAMSFI II will be implemented over the period 2018-19, and is a vehicle for support to the Bank’s other operations in Tunisia. Therefore, its impact will consolidate the achievements of PAMSFI I and other policy-based programmes aimed at improving regional development and job creation. Indeed, these programmes support regional structures, the business framework in the regions as well as youth employability, whereas PAMSFI will provide complementarity on the supply side of financing by targeting project proposers and VSME. PAMSFI II comprises two complementary components. The first component aims at reducing social, territorial, regional and gender disparities through better financial inclusion. The second component aims at building the financial sector’s resilience and developing capital markets to ensure efficient financing of the economy.

Project Objectives

The goal of PAMSFI II is to create the necessary conditions for accelerated, resilient and inclusive economic growth by strengthening the financial sector’s role in financing the economy and vulnerable segments of the population. In particular, it aims to support the emergence of a new development model for Tunisia, in which the private sector can develop and generate employment throughout the country, and where disadvantaged segments of the population can contribute to, and benefit from, growth. The Programme’s specific objectives are to strengthen and deepen financial sector governance by improving access by the population and businesses to diversified financial services.

Beneficiaries

The programme's end-beneficiary is the Tunisian population. It will benefit from improved living conditions due to inclusive and sustainable economic growth made possible by the creation of economic opportunities and jobs. The private sector will also benefit from PAMSFI. Its access to financing will be facilitated by the improved supply of financial services, including in the country's hinterland. Access to savings services will enable people with low and often irregular incomes to maintain a more stable level of consumption over time. In addition, access to financing for very small, small and medium-sized enterprises (VSMEs) should help to create more jobs.

Participating Organization

Funding
African Development Bank
Implementing
GOUVERNEMENT DE TUNISIE MINISTERE DES FINANCES

Information

IATI identifier 46002-P-TN-HZ0-005
Last Update 25 Jul 2019

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Geographic Location

Country Tunisia