News Column

Draft Laws Related to Funding SMEs Adopted

July 16, 2014

The National Constituent Assembly (NCA) adopted, Tuesday, during a plenary session three draft laws.

The first draft law concerns a loan agreement concluded between Tunisia and the Arab Fund For Economic and Social Development (AFESD) for funding the small-and medium-sized enterprises (SMEs) with an amount worth Ê 50 million (some 80 millions Tunisian dinars- MTD).

The second draft law concerns a convention of guarantee between Tunisia and AFESD, worth Ê 20 million (32 MTD), to be granted to the Bank of Funding SMEs (BFPME). These two loans, to be reimbursed over a ten-year period (with 3 years of grace period) with an interest rate of 2%, aim to finance the small and medium projects in the private sector and develop the spirit of initiative for the private investors and promoters.

The Secretary of State for Development and International Co-operation Noureddine Zekri said that the AFESD mobilised, so far, a global amount close to 4 billion dinars for Tunisia.

The third draft law provides for a loan agreement worth 40 million Kuwaiti dinars (230 MTD), concluded between Tunisia and AFESD as a contribution to funding the third phase of the project of the classified regional roads and rural tracks, whose global cost reaches 306 MTD.

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Source: AllAfrica

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