The Guarantee Fund for Cultural Industries (FGAC)was set up pursuant to an agreement signed on 12 November 2002 between the Government of the Republic of Tunisia and the Organisation Intergouvernementale de la Francophonie (O.I.F) and ratified by Decree No. 2003-1265 of 16 June 2003. The Fund is intended to provide cover for the financing of loans granted by banks to enterprises operating in activities related to cultural industries.
1- Are eligible for guarantee by the Fund the following loans:
- Loans whose term does not exceed seven years.
- Loans granted to support working capital as part of funding of investment projects.
- Loans extended to projects generating an annual turnover not exceeding 35 million dinars and operating in one of the following sectors:
- Film, audiovisual and visual production and distribution,
- Technical industries for cinema, music and audiovisual production,
- Operation of cinemas,
- Radio and television,
- Print journalism
- the Production of cultural and educational multimedia materials,
- Theatre and performing arts,
- Music,
- Visual arts.
2- Intervention methods of the FGAT:
the fund’s intervention takes the form of risk-sharing with the Intervening Bank.
The Fund assumes up to 70% of the final loss of the principal amount of the loans covered by the guarantee