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The House of People’s Representatives, Tunisia, Approves Plan To Support Startups with €66.9 million loan

As the global epidemic lingers on, business activities have continued to remain on the low. And as the nationwide lockdown persist, startups across the world not just in Tunisia, will be affected.

But there’s good news for Tunisia startups. The country’s Parliamentarians have passed a loan agreement to support the country’s startups, though the reason goes way beyond the global pandemic. The loan is in the tune of 208.580 million dinars, which is approximately €66.9 million. According to the HPR (House of People’s Representatives), startups and innovative SMEs operating in the country are among those that will benefit from the financial support.

The loan agreement was signed between the IBRD (International Bank for Reconstruction and Development) and the Republic of Tunisia on 30 January 2020. The aim was to assist Tunisia with funds needed to achieve its objects, which includes a five-year program tailored to bring onboard, 1000 startups. The startups will also help to create over 10,000 jobs in the country.

Furthermore, another aim the organizers of the program desire to achieve is a turnover of at least 1 billion dinars, including setting up a giant Tunisia-based startup with global reach (ICORNE).

So far, applications submitted by startups are approximately 456, of which 268 have already been approved.

Source: Tunis Afrique Presse

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