AfDB Backs SME Development, Infrastructure Program in Tunisia, East Africa

The African Development Bank adopted on Thursday (July 14) two funding decisions targeting small and medium-sized business financing in Tunisia and infrastructure development in East Africa.

The bank approved a $50 million loan to help increase access to financial services of SMEs in Tunisia. This AfDB loan complements a separate $50 million loan provided by the World Bank for the country’s SME sector.

AfDB also approved a $40 million loan in support of an infrastructure program in East Africa. The loan will help finance the rehabilitation and operation of the Rift Valley Railways, which links Kenya and Uganda.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.