SOTUGAR, Its Partners And The Ministry Of Finance Evaluate The Activity Of The SARE And SARE Tourism Guarantee Mechanisms

On 24 June 2021, SOTUGAR, in collaboration with the Ministry of Economy, Finance and Investment Support, represented by the General Directorate of Taxes (DGI) and the Directorate General of Public Accounts and Recovery (DGCPR), organized a seminar to evaluate the guarantee mechanisms SARE and SARE Tourism established to support the financing of professionals and businesses impacted by the Covid 19 pandemic. The representatives of DGI and DGCPR presented the additional measures introduced by the 2021 Finance Act and the results of the reopening of the “” platform.

In addition to representatives of SOTUGAR’s partner banks, the seminar was attended by representatives of the Ministry of Tourism, the Central Bank of Tunisia, business unions, professional tourism federations, and SME support associations and organizations.

SOTUGAR gave an overview of the assistance provided by the two guarantee mechanisms since their creation in the second quarter of 2020, highlighting in particular the number of recipient companies, the amounts of credit extended and the beneficiary sectors and activities.

The representative of the Tunisian Professional Association for Banks and Financial Institutions (APTBEF) presented the efforts made by the banks to support the business sectors impacted by the pandemic, through the volume of loans granted by the banks with or without the coverage of the guarantee mechanisms managed by SOTUGAR.

At the end of the seminar, the SOTUGAR representative, after reminding participants that the two mechanisms will cease to operate in December 202, invited the partner banks to continue their efforts on behalf of their current and prospective  customers, and urged the support structures, such as the Center for Young Business Leaders or the Tunisian Accounting Body of Tunisia, as well as the business unions and associations and sector-based professional structures present at the seminar, to assist businesses  and professionals in their credit application procedures.

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