Actualites

Actualites

Investment part of GGF Green Recovery Strategy to support economic recovery post COVID-19

Leases to include agricultural equipment, and fuel-efficient vehicles

 

Luxembourg and Tunis, 23 February 2021 – The Green for Growth Fund (GGF) has provided a senior loan of EUR 5 million to long-standing partner Arab Tunisian Leasing (ATL) in Tunisia. The facility is part of GGF’s green recovery package which aims to bolster the ability of local financial institutions to meet the challenges of the global pandemic, and ensure small businesses continue to have access to green financing. The investment will be mainly used for energy efficiency leases for industrial process-related machinery in the agricultural industry and fuel-efficient vehicles, as well as renewable energy leases for small-scale solar PV projects.

ATL is the third largest leasing institution in Tunisia and is committed to supporting financially underserved businesses across the country. Recognizing the high potential for renewable energy in Tunisia, ATL was the first to launch a solar PV leasing product in 2017 with the assistance of the GGF Technical Assistance Facility – underscoring the institution’s commitment to a green transformation. With the new loan facility, ATL will invest in energy-efficient commercial vehicles, solar PV installations, and energy-saving industrial and agricultural equipment for leasing to clients. The leases will be aimed at industrial borrowers seeking to increase energy efficiency measures and reduce energy consumption in their operations. Expected energy savings are estimated at 10,200 MWh each year, preventing over 2,000 tons of carbon emissions annually.

GGF Chairman Olaf Zymelka stated: “We are proud of our continued partnership with ATL as they have shown strong commitment to supporting the country’s green economic recovery post COVID-19. By working collaboratively, we believe the funding will go a long way in providing businesses access to green leases, helping them to reduce their energy costs as well as CO2 emissions.”

Mr. Zouhaier Tamboura, CEO of ATL, said, “I am delighted with the signing of this loan agreement, which will certainly help boost green financing for SMEs in Tunisia, which represent the backbone of the Tunisian economy. It will also allow ATL to continue to achieve growth by increasing leasing options for energy and resource efficiency measures.”


ABOUT THE GGF

The Green for Growth Fund invests in measures designed to cut energy use and CO2 emissions, and improve resource efficiency in 19 markets across Southeast Europe and Turkey, the European Eastern Neighbourhood Region, and the Middle East and North Africa. The fund provides such financing directly to renewable energy projects, corporates and municipalities or indirectly via selected financial institutions. The GGF’s Technical Assistance Facility maximizes the fund’s investment impact through support for capacity building at local financial institutions and partners.

The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). The fund’s growing investor base comprises donor agencies, international financial institutions and institutional private investors, including the International Finance Corporation, the Dutch development bank FMO, and the German ethical bank GLS. The GGF is advised by Finance in Motion GmbH. MACS Energy & Water GmbH, Frankfurt am Main acts as the technical advisor.

For more information see www.ggf.lu and follow us on Twitter @GreenGrowthFund

 

ABOUT ATL

ATL leasing is a financial institution created in 1993 by two main shareholders, the ATB (Arab Tunisian Bank) and the BNA (National Agricultural Bank).

Since its creation and throughout its career, ATL has accumulated know-how and expertise in the leasing business which has enabled it to be among the most important operators on the Tunisian market. Its activity involves all economic sectors (industry, services, agriculture, new technologies).

ATL offers its clients a full range of financing tailored to their investment needs in furniture and / or real estate. It operates throughout the country with a network of 11 branches located in major cities across the country and holds a 15% market share.

 

Media contact GGF

Merle Römer
Manager Marketing & Communications
Phone: +49 (0)69 271 035-171
Email: press@press@ggf.lu

 

Media contact KEP Trust

Kais BEN FRADJ
Head of division, Marketing & Communications
Phone: + 216 93 609 040
Email: benfradj_k@atl.com.tn