EIB lends 21 mn to Tunisia’s One Tech Holding

The European Investment Bank (EIB) and the Tunisian group One Tech Holding (wiring, mechatronics, computer technology and electronics) signed an agreement in Tunis for a 21-million-euro financing deal to support the group’s expansion and modernisation in production capacity in the cable and mechatronics sector.

One Tech intends to invest in research, development and innovation in these sectors with a project that will create 720 full-time contract positions in Tunisia.

The loan is part of the Horizon 2020/InnovFin program dedicated to innovative businesses and co-financed with the European Commission.

EIB Vice President Román Escolano called the financing “emblematic”.

“It highlights the EIB’s efforts towards private sector firms that make up industrial excellence, and in particular those that create jobs for young people,” Escolano said.

“Our institution’s mission is to create optimal conditions for financing increasingly innovative technologies essential for the economy and competition. As such, EIB is proud to support Tunisian businesses in their growth,” he said.

One Tech Group is a holding company specialised in the production of printed circuit boards, mechanical and electronic assembly, connectors and wiring, as well as products made for automobile, aerospace and industrial applications.

It also makes products for the energy and telecommunications sectors and for the computer and communication technology sectors.

Last April, One Tech was awarded the “Premio d’Onore” for Best Tunisian Partner at the Italian Business Oscars sponsored by the Tunisian-Italian Chamber of Commerce and Industry (CTICI).

ANSAmed

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