Active Development AidData Chinese Aid

Africa Growing Together Fund provides EUR 7.5 million loan to Amen Bank for on-lending purposes (Linked to Umbrella Record ID#36104)

$7.5M USD

Funder	People's Bank of China (PBC)
Recipient Organization	Amen Bank
Country	Tunisia
Start Date	Dec 11, 2019
End Date	Oct 12, 2028
Duration	3,228 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105964`

Grant Description

Africa Growing Together Fund provides EUR 7.5 million loan to Amen Bank for on-lending purposes On May 22, 2014, the African Development Bank (AfDB) and the People's Bank of China (PBOC) signed an agreement for the Africa Growing Together Fund (AGTF) (see Umbrella Record ID#36104). The purpose of this $2 billion loan facility was to finance large development projects in Africa between 2014 and 2024.

The AGTF is sponsored by the PBOC and the administered by AfDB.

Then, on December 11, 2019, AGTF signed an EUR 7.5 million loan agreement (ID#5050130000401) with Amen Bank for on-lending purposes.

On the same day, the African Development Bank (AfDB) issued an EUR 50 million loan (ID#2000130020581) to Amen Bank for on-lending purposes.

📋 Loan / Grant Terms

💰 Loan Amountincluded a 3

📅 Maturity3.5 years

⏳ Grace Period3 years

The purpose of the project is to facilitate on-lending to small and medium-sized enterprises (SMEs) and corporates in key sectors of Tunisia’s economy.

📋 Staff Comments

The AfDB project identification number is P-TN-HAB-009.
Amen Bank is a private sector bank in Tunisia. It is listed in the Bourse de Tunis.

📚 Sources & References

Tunisia - Amen Bank
GROUPE DE LA BANQUE AFRICAINE DE DÉVELOPPEMENT: Note de Synthesede Projet: AMEN BANK
AfDB approves €57.5 million to Amen Bank to develop trade and support SMEs Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.