A line to finance needs in structural working capital of SMEs is expected to be created before the end of 2022, said Director of Supervision, Diagnosis and Development at the bank Hamdi Ksiaa.
This line, with 100 million dollars (over 300 million dinars), will be allocated to the preservation of the economic fabric and its development through the diversification of banking interventions and their rationalisation in addition to strengthening financial resources and expanding areas of intervention in the consolidation of SME activities, the official told TAP.
Kssiâa added that this project also aims to develop the methods of intervention of banks especially during crises, and adapt them to the current needs of SMEs, in addition to the reactivation of their role in supporting SMEs as strategic partners and not on the basis of the bank-client relationship.
Thus, the resources of this line will be used by banks, allowing them to grant medium-term loans capped at 50% of the line resources and 50% of all their commitments to their customers, on their own accounts, both with regard to the creation or expansion of projects.
The official deemed necessary to create a computer application to coordinate between all parties concerned, to avoid the slowness of procedures and ensure the required efficiency in the examination of files and monitoring operations.
He recalled that the difficult economic and social situation in Tunisia especially after the COVID-19 pandemic has had a negative impact on the business climate and economic transactions in general, which has caused a drastic reduction in the profitability of start-ups.
Kssiâa deemed necessary to give ailing companies regular access to medium-term credit to strengthen their structural working capital needs and obtain liquidity in order to ensure a satisfactory stock of raw materials to close the gaps resulting from the disparities between the payment terms of customers and their due, and extend the repayment period of companies’ debts.
