A Specific Guarantee Mechanism For Financing Granted To Economic Undertakings In Interior Regions
This mechanism was created as part of the exceptional measures set out in Article 4 of the Supplementary Finance Act for 2015 providing for a 30 million dinars budgetary allocation destined to guarantee financing for the creation and extension of economic undertakings located in inland governorates. (Médenine, Tataouine, Gabes, Kébili, Tozeur, Gafsa, Kasserine, Sidi Bouzid, Kairouan, Kef, Siliana, Jendouba, Beja and Zaghouan ). Within this framework, 20 million dinars, corresponding to the 2015 and 2016 instalments, have been transferred, while the 2017 instalment was cancelled.
1- Activities eligible for the guarantee:
- Manufacturing industry activities listed in the annex to decree no. 492 of 1994,
- Computer related activities, services in relation to software use and data processing, assistance, support, studies, consulting, entertainment services, security and remote monitorng on industrial plants, vehicle repair and maintenance and agricultural mechanisation.
- Projects eligible for funding under the Information Technology Innovation Incentive Scheme (RITI)
2- Size of investment projects concerned:
- Start-up projects with an investment cost not exceeding 15 million dinars, including working capital,
- Extension projects with an investment cost not exceeding 15 million dinars, including net fixed assets.
3- Types of financing eligible for the guarantee :
- Medium and long-term loans,
- Equity investments:
- equity contributions by venture capital investment companies (SICAR),
- equity contributions by venture capital mutual funds (FCPR),
- seed funds (F.A)
4- Methods of intervention of the Guarantee Fund :
The guarantee Sscheme operates in accordance with the following criteria :
- Refinancing of one half of the loan and assumption of treasury interest on the other half of a percentage of the outstanding principal amounts of covered loans, at the stage of litigation.
- Assumption of a proportion ranging from 75% to 90% of the irrecoverable amounts of loans and equity interests, in accordance in accordance with the agreed apportioning of the risk, according to the following distribution :
- Projects located in regional development areas, projects launched by new entrepreneurs, projects eligible for funding under the RITI, and seed fund contributions:
- 90% by the guarantee scheme,
- 10% by the bank, the venture capital investment company(SICAR), the venture capital mutual investment fund (FCPR), or the seed fund (F.A).
- Other projects :
- 75% by the guarantee scheme,
- 25% by the bank, the SICAR or the FCPR