DEG finances toy production in Tunisia

German development finance institution DEG is providing German toy company Steiff’s African production facility with financing via the AfricaConnect programme, using funds from the Federal Ministry for Economic Cooperation and Development. Steiff, which is known for its soft toy animals and high-quality children’s clothing, has its headquarters in the town of Giengen in eastern Baden-Württemberg. As well as its production facility in Giengen, Steiff has operated a factory in Tunisia for over 40 years.

This loan will help to strengthen an important employer in a less industrially developed region of Tunisia, thereby safeguarding jobs throughout the pandemic. Steiff employs some 800 people in its factory in Sidi Bouzid.

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