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Publish Date : 20-Jun-2017

The World Bank has sanctioned the Business Environment and Entrepreneurship development policy loan, worth $500 million, to help Tunisia enhance business environment and promote entrepreneurship.

The bank said the facility seeks to support key pillars of the Five-Year Development Plan 2016-2020 put in place by the Government of Tunisias, which puts the private sector at the heart of the growth and jobs agenda, create a level playing field for competition, and make financing accessible for young firms and entrepreneurs.

Abdoulaye Sy, World Bank Senior Economist for Tunisia and team leader for the program said In details, this operation also contributes to meeting the governments objective to boost seed and equity financing for young firms and entrepreneurs and improve access to credit and housing finance through the simplification of the existing regulatory framework for seed and equity funds, the adoption of the law to allow the functioning of private credit bureau and the revision of the eligibility criteria to the Social Housing Promotion Fund (FOPROLOS, Fonds de Promotion du Logement pour les Salaries).

The World Bank has earlier backed many Tunisian programmes supporting the private sector, with the latest for the hackatons which are organized for the youth to develop IT solutions to promote womens economic empowerment.

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