$50 Million AfDB-BIAT Deal Set to Boost Tunisia’s Trade and Jobs
The African Development Bank Group (AfDB) and Banque Internationale Arabe de Tunisie (BIAT) have signed a US$50 million Trade Finance Guarantee Facility aimed at boosting Tunisia’s trade, supporting private sector growth and strengthening supply chains.
The agreement was signed on Friday at BIAT’s headquarters in Tunis and is expected to improve access to essential goods, support local production and contribute to job creation. It also reinforces AfDB’s support for government efforts to strengthen Tunisia’s financial sector.
The facility will primarily support the importation of industrial inputs, production machinery, telecommunications equipment and renewable energy technologies, which are critical to Tunisia’s industrialisation drive. It will also enable international banks to confirm trade finance instruments issued by BIAT, including letters of credit.
With a three-year tenor, the facility will benefit large companies as well as small and medium-sized enterprises, including women-led businesses. Priority will be given to low-carbon projects, in line with Tunisia’s climate goals, as well as agro-industry, light manufacturing and the importation of essential goods.
“This facility will enable the African Development Bank to contribute to job creation and improved access for people to essential goods and services,” said Malinne Blomberg, AfDB Deputy Director General for North Africa and Country Manager for Tunisia.
Under the agreement, AfDB will provide guarantees of up to 100% to international banks, facilitating the confirmation of letters of credit and other trade finance instruments issued by BIAT on behalf of Tunisian companies.
BIAT Chief Executive Officer Elyes Jebir described the agreement as the bank’s first direct cooperation with AfDB, noting that it would strengthen BIAT’s role in supporting Tunisian companies operating in international markets.
The facility aligns with AfDB’s 2024–2029 Country Strategy Paper for Tunisia, which focuses on economic resilience, job creation and private sector development.
