The United States launch a fund to support the Tunisian private sector

Jun 24, 2013

An enterprise fund of up to $100 million (€ 76.2 million) will soon be set up in Tunisia, an official has revealed on June 14th.

An enterprise fund of up to $100 million (€ 76.2 million) will
soon
be
set up in Tunisia, an official has revealed on June 14th.

The Tunisian-American Enterprise Fund, which will be chaired by business expert Bowman Cutter, aims in particular to support and stimulate private investment in Tunisian small and medium-sized enterprises (SMEs), newspaper Jeune Afrique reports.

Bowman Cutter said in a press conference that the fund aims to "fill the gaps in market funding" and will have an initial capital of $20 million, which will rise to $100 million within five years.

The Tunisian and
US
governments agreed to direct the activity of the fund to the most marginalized regions of Tunisia.

This fund is expected to improve access to credit for Tunisian SMEs, which represent 95 per cent of businesses in the country.ADNFCR-2976-ID-801602936-ADNFCR