Tunisian Parliment Supports Startups with $72.2 Million Loan Agreement
by wamda 2020-05-15
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source: Tunis Afrique Presse

The House of People's Representatives (HPR), on Tuesday, passed a loan agreement amounting to €66.9 million (about USD 72.2 million ) to support startups and innovative SMEs in Tunisia.

The loan agreement, signed between the Republic of Tunisia and the International Bank for Reconstruction and Development (IBRD) on January 30, 2020, aims to help Tunisia achieve the objectives of a five-year programme for the creation of 1,000 startups and consequently the creation of 10,000 jobs.

The programme also aims to achieve a cumulative turnover of 1 billion dinars (about $518 Million)and to set up a giant Tunisian start-up with global reach (ICORNE).

456 applications have been submitted for startup labels since April 2019, of which 268 applications have been approved.

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