Tunisia has secured two loans from the World Bank to support digital transformation in the country and foster entrepreneurship.
1. $75 million for SMEs and startups
This will provide equity and quasi-equity to 280 innovative startups and SMEs, in order to help them grow and strengthen the ecosystem. The fund will be managed by Smart Capital and closely coordinated by World Bank Group’s private sector arm, the International Finance Corporation.
2. $100 million for the digitisation of social security and education systems
The second loan will foster a GovTec approach, aiming to improve the service quality of these systems.
“The aim is to ensure vulnerable populations, such as low-income groups, women in rural areas, illiterates and the disabled have access to these key services, and that systems enable greater citizen feedback to hold these services accountable.”The World Bank
Tunisia is rapidly growing and increasingly gaining attention from the international and regional investment community. Total startup investment in the country is up by 215% from 2017, through 48 recorded deals in 2018, up by 21 from 2017, according to the local data platform, MAGNiTT. Moreover, Tunisian entrepreneurs have been selected by Womena in its most recent cohort. Least to say, Tunisia is a country to watch for startup growth.