GGF PARTNERS WITH ATTIJARI LEASING TO PROMOTE ENERGY EFFICIENCY IN TUNISIAN MSME SECTOR, INVESTS EUR 6 MILLION
Luxembourg and Tunis, January 3, 2019 – The Green for Growth Fund (GGF) has partnered with Tunisia’s Attijari Leasing, providing a loan of EUR 6 million to support its leasing to the underserved MSME sector in the country. The loan is aimed at energy efficiency measures focused on replacing light vehicles with fuel-efficient alternatives. Leasing for other energy-efficient small equipment for MSMEs, such as processing equipment or other machinery, would also be covered under this loan. The impact of this loan would be further enhanced through additional capacity building activities of the GGF Technical Assistance Facility which would include support for strengthening the institution’s environmental and social monitoring and capacities.
Attijari Leasing S.A. is the fifth largest leasing company in Tunisia, with a strategic focus on serving the MSME segment. The institution utilizes the extensive nation-wide branch network of its parent, Attijari Bank Tunisia, for an excellent outreach, including rural regions of the country. In addition to energy-efficient equipment and vehicles, the institution plans to expand its portfolio into small-scale renewable energy equipment in the future. Given Attijari Leasing’s sector-wise diversified portfolio and the focus on the MSME segment, the institution is in an ideal position to have a widespread impact on the energy efficiency of this segment which otherwise has limited access to credit.
GGF Chairman Olaf Zymelka stated: “Sustainable development of the MSME sector in terms of energy consumption lies at the heart of GGF’s mission. We are pleased to see that this is exactly the sector Attijari Leasing is focused on. We look forward to seeing them grow into a leading institution in energy-efficiency leasing and are eager to be a part of this transition.”
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, the Caucasus, Ukraine, Moldova, the Middle East and North Africa. The fund provides financing to local partners that on-lend to enterprises and private households, and it invests directly, primarily through the contribution of senior debt, in renewable energy projects. 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, the German ethical bank GLS, Church of Sweden, and ASN Bank. The GGF is advised by Finance in Motion GmbH. MACS Management & Consulting Services GmbH, Frankfurt am Main acts as the technical advisor.
ABOUT ATTIJARI LEASING
Attijari Leasing was created in December 1994 under the name of General Leasing. It offers financing solutions adapted to professionals and companies of all sizes, in addition to private individuals. Attijari Leasing seeks the satisfaction of its customers, regularly improving its already existing products. The company’s Leasing Mobilier & Immobilier solution allows customers to fully finance property while remaining liquid, with the possibility of eventual ownership. Attijari Leasing focuses on simple financing solutions.
For more information, please visit: www.attijarileasing.com.tn
Media contact GGF
Manager Marketing & Communications
Phone: +49 (0)69 271 035-171
Media contact ATTIJARI LEASING
Head of Support Activities
Phone: +216 70 136 445