57 million euros to support agriculture and social and solidarity economy in Tunisia

By:Mohamed Ben Abderrazek

As part of the establishment of a new sectoral program aimed at supporting financial inclusion, specifically in the agricultural sector, an allocation of 57 million euros has been made.

The program, known as “PRASOC,” focuses on backing the private sector and enhancing financial inclusion in agriculture and the social and solidarity economy (ESS). It emphasizes the implementation of instruments designed to promote financial inclusion for economic operators who are excluded or face challenges accessing formal financing systems. These operators, however, possess the potential to develop sustainable economic activities in promising sectors.

PRASOC comprises the creation of two credit lines for the private sector: one specifically for agricultural credit and the other dedicated to the social and solidarity economy (ESS). The allocated sum for these credit lines is 50 million euros. Additionally, there is a Financial Inclusion Support Fund totaling 7 million euros. This fund aims to mobilize resources through donations, supported by agricultural and ESS credits. The program’s objective is to finance a minimum of 100 operations in the agricultural sector and 300 in the social and solidarity economy sector.

Importantly, the PRASOC program is highly complementary and synergistic with the “Support for Sustainable Development in the Agriculture and Fisheries Sector in Tunisia (ADAPT)” program, funded by the European Delegation in Tunisia and managed by the Italian Agency for Development Cooperation (AICS) in partnership with the World Food Program (WFP).

The PRASOC program’s goal is to facilitate investments by private entrepreneurs in the agricultural and artisanal fishing sectors. It specifically supports ecological and sustainable production systems, aligning with the broader objective of fostering sustainable economic growth in these vital sectors.