AfDB allocates €92.3m for entrepreneurship, jobs in Tunisia

The African Development Bank (AfDB) has approved a €92.3 million financing package to support Tunisia’s Support Programme for Business Competitiveness and Empowerment through Job Creation (CAP-Emplois). This funding includes a €90 million loan from the Bank and a €2.3 million grant from the Women Entrepreneurs Finance Initiative (We-Fi) Trust Fund.

Launching in November 2024, the CAP-Emplois programme aims to foster job creation and economic inclusion through entrepreneurship and skills development. It will support new business creation and the growth of existing enterprises.

Malinne Blomberg, Deputy Director General for North Africa and Country Manager for Tunisia at AfDB, emphasised the programme’s significance, stating, “This project helps entrepreneurs address structural constraints that hold back investment projects, productivity, and growth.”

Furthermore, the programme will offer training for young people and women, entrepreneurial support through Souk At Tanmia 2.0, and enhanced institutional capacity. It is expected to create 118,900 formal jobs, with 50 per cent of training beneficiaries being women and 45 per cent of businesses receiving support run by women.

The We-Fi grant will also reduce loan initiation fees for women-led businesses and increase their share of beneficiaries from 35 to 45 per cent.

Attribution: AfDB

Subediting: M. S. Salama