The government of Tunisia secured $175 million in loans from the World Bank to support digital transformation and entrepreneurship in the country. The amount will be used to digitize key public services and create more opportunities for citizens.
The project, dubbed Tunisia Innovative Startups and SMEs Project, comprises of three parts, viz;
The first, Equity and Quasi-Equity Financing for Innovative Startups and SMEs will provide non-collateral loans on flexible repayment plans to approximately 280 innovative startups and SMEs. The funds will be disbursed through both Anava Funds of Funds for Startups and InnovaTech Fund.
See also: Google Digital Skills for Africa Launched in Aba, Eastern Nigeria
The second, Ecosystem and Firm-Level Support for Innovative Startups and SMEs will provide grants to startups to strengthen the entrepreneurship ecosystem.
The third, Project Management and Capacity Building will cover the cost of execution by the project coordinator – Caisse des Dépôts et Consignations (CDC) during the project.
The government of Tunisia will ensure that the CDC executes the project in accordance with the World Bank’s Environmental and Social Standards (ESSs). This new project supports the Startup Tunisia Program which encourages the creation and growth of tech startups in the country. It is part of the Digital Tunisia strategy which aims to make Tunisia a hub for startups in the Middle East and Africa.
The Tunisia Innovative Startups and SMEs project will run until 31st December 2026.