Tunis, October 20, 2020
The United States government, through the U.S. International Development Agency (USAID), is partnering with leading microenterprise institutions Baobab Tunisie and Advans Tunisie to provide financing to more than 13,000 Tunisian micro and small enterprises and women-owned businesses in underserved regions across Tunisia.
USAID Tunisia JOBS, in partnership with Boabab and Advans will help to mobilize US$31.5 million in financing for the benefit of 13,200 micro and small businesses throughout Tunisia. Boabab and Advans will provide the equivalent of US$28.5 million in working capital loans, while USAID Tunisia JOBS will contribute US$3 million in grants. The loans and grants will help micro and small businesses sustain about 17,300 jobs.
“The U.S. government is committed to building innovative and sustainable solutions to accelerate the recovery of local Tunisian businesses nationwide by providing much-needed capital at a critical time,” said the U.S. Embassy’s USAID Tunisia Mission Director, Peter Riley. “In August 2020 USAID and the US Embassy committed $10 million for a new Economic Recovery Fund to support the recovery and growth of the Tunisian private sector that will directly benefit tens of thousands of enterprises across Tunisia.”
The USAID $10 million Economic Recovery Fund for small businesses is part of the U.S. Embassy in Tunisia’s contribution to the country’s COVID-19 response and recovery. Since March, the U.S. Embassy in Tunisia has contributed more than $37.5 million. This contribution includes supporting the medical community’s response through test kits, PPEs, sanitation materials, and awareness campaigns. This also includes contributing to the national and civil society’s response, and to the country’s economic response through economic recovery efforts and e-government initiative.