The Board of Directors of the African Development Bank (AfDB) has approved financing of 92.3 million euros for Tunisia to implement the Program to support business competitiveness and population empowerment through job creation (CAP Emplois).
The financing consists of a loan of 90 million euros from the Bank and a grant of some 2.3 million euros from the We-Fi trust fund (“Women Entrepreneurs Finance Initiative”) under the Initiative to promote access to finance for women entrepreneurs (AFAWA), according to a press release published on August 12 by the AfDB.
And to explain that the “CAP Emplois” program, designed by the Tunisian Ministry of Employment and Vocational Training with the support of the Bank, will be deployed over four years from November 2024.
Its objective is to strengthen job creation to improve the living conditions of the population and promote economic inclusion through entrepreneurship and skills development.
“CAP Emplois” also aims to promote the creation of new businesses, the growth and formalization of existing businesses, and better access to quality jobs for young people and women.
According to the AfDB, this program is based on three main areas of intervention. First, the complementary integration training (FCI) aims to provide young people and women seeking employment with the skills needed to access salaried jobs, particularly in very small and medium-sized enterprises (VSEs) in their region.
Secondly, the support for entrepreneurship, Souk At Tanmia 2.0 , aims to extend access to support services adapted to the needs of different targets, particularly women.
It also aims to facilitate access to financing from the Tunisian Solidarity Bank (BTS) and to develop the formalization of businesses by reducing social charges and supporting entrepreneurs in the management and productivity of their business.
Third, the development of institutional capacities to maximize the impact of different interventions and to facilitate the design and implementation of reforms to improve the regulatory framework for entrepreneurship.
“According to the Tunisian government’s economic forecasts, the program could contribute to the creation of 118,900 formal jobs, including 76,600 direct and 42,300 indirect,” the AfDB press release reads.
On the specific issue of gender, the “CAP Emplois” program will contribute to improving employment indicators for women through skills development and support for female entrepreneurship.
This includes, according to the AfDB, the organization of training and professional integration for at least 50% of women; as well as the creation, formalization and financing of at least 45% of businesses run by women.
According to the same source, the We-Fi fund’s donation under the AFAWA initiative will reduce loan initiation fees for women’s businesses and increase the share of beneficiary women entrepreneurs from 35% to 45%.
