Tunisia: Launch of two lines of credit to finance small businesses affected by the pandemic and SSE businesses

Tunis / Tunisia – The 2022 finance law provides for the establishment of two lines of credit; the first to finance project leaders and small businesses affected by the coronavirus pandemic and the second to finance social and solidarity economy companies (ESS).

The first line will grant zero-rate credits, capped at 5,000 dinars, which will finance liquidity needs during the period from January 1 to December 31, 2022. These credits will be repaid over 4 years including one year of grace.

The National Employment Fund will allocate 25 million dinars to finance this line, the management of which has been entrusted to the Tunisian Solidarity Bank (BTS).

The second line of credit intended to finance companies in the social and solidarity economy will grant loans on preferential terms, over the period from January 1 to December 31, 2022.

An allocation of around 30 million dinars will be mobilized by the National Employment Fund to finance this line, the management of which has also been entrusted to the BTS.

The State will bear the difference between the interest rate on investment loans and the average money market rate within the limit of three points, for loans granted by banks and financial institutions to SMEs. This measure is applied from January 1, 2019 until the end of December 2022.

The government will also grant an additional deduction of 50% on research and development expenses incurred by companies under agreements with public scientific research and higher education establishments or other authorized public establishments.

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