Tunisie Leasing and Factoring has raised a $7.5 million green loan arranged by Symbiotics Investments to further expand its renewable energy and energy-efficient machinery and equipment offerings.

According to the World Bank, the loan aims to finance Tunisian institutions for lending to eligible small and medium-sized enterprises.

More than 40 percent of the loan amount was allocated to energy efficient housing projects, i.e. purchase of new energy efficient apartments, as well as individual house constructions and renovations.

Attracted financial means will be directed towards the development of micro, small and medium-sized businesses in Armenia.

The project allows for financing of various loan purposes, for example purchase of housing from primary and secondary markets, renovation, and single-family house construction.

This new office in Yerevan, Armenia aims to strengthen Symbiotics' long-standing presence in the region and further support its growth.

ACBA has committed to use the proceeds of the Sustainability Bond for both social and green projects, in line with the ICMA Sustainability Bond Principles.

Microenterprises and SMEs will benefit from the Social loans to encourage employment creation and business activity in the country.

Even before the COVID-19 crisis, access to finance was the biggest obstacle for doing business in Armenia. Has it increased following the pandemic?

The initiative will include the International Dialogue on the Role of Islamic Social Financing in Achieving the SDGs, which will launch critical discussions including with global leaders and Islamic institutions on the role of Islamic social financing.