Tunisia Receives €20-Million Grant From Germany to Support Private Sector

Tunis/Tunisia — Tunisia received a €20 million grant from the German government, through the German Investment for Employment (IFE) on behalf of the German Development Bank (KFW), to support employment in the private sector in the wake of the coronavirus pandemic, said Thursday the Central Bank of Tunisia (BCT).

The latter specified that this grant aims to support private economic operators affected by the COVID-19 pandemic and to preserve jobs.

This fund is intended to finance the interim interest paid or to be paid on the deferrals due on loans contracted before the crisis, the interest subsidy on additional loans and the salary and operating costs related to the crisis.

The grant per beneficiary is capped at the equivalent of €200,000.

The grant agreement was signed on February 9 and 22 by the Ministry of Economy, Finance and Investment Support, the BCT and the IFE.

Under the provisions of the agreement, the BCT in its capacity as the executing agency acting in the name and on behalf of the Tunisian Government, shall manage this fund.

To this end, the BCT issued, on May 19, 2021, a Note to Authorised Intermediaries on the modalities of the use of this grant.

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