Tunisia Innovative Startups and SMEs Project

Abstract*

The development objective of the Innovative Startups and Small and Medium Enterprises Project for Tunisia is to increase access to finance and support the growth of innovative startups and small and medium enterprises. The project will comprise three components. First component, Equity and Quasi-Equity Financing for Innovative Startups and SMEs will provide equity and quasi-equity financing through both Anava Fund of Funds and InnovaTech Fund to invest... Show More

Development Objective

The Project Development Objective is to increase access to finance and support the growth of innovative startups and small and medium enterprises

Key Details

Project Details

Project ID
P167380
Status
Active
Team Leader
Mihasonirina Andrianaivo , Samia Mouline, Safia Hachicha Ep Ben Abdallah
Borrower 2
Republic of Tunisia

Country
Tunisia
Disclosure Date
November 10, 2018
Approval Date
(as of board presentation)
June 14, 2019
Effective Date
July 23, 2020

Total Project Cost 1
US$ 75.00 million
Implementing Agency
Caisse de Depots et de Consignations
Region
Middle East and North Africa
Fiscal Year 3
2019

Commitment Amount
US$ 75.00 million
Environmental Category
N/A
Last Update Date
February 19, 2024
Closing Date
December 31, 2026

Consultant Services required
TBD
Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change9%
- FY17 - Mitigation9%

FY17 - Finance

FY17 - Financial Infrastructure and Access100%
- FY17 - MSME Finance100%

FY17 - Human Development and Gender

FY17 - Gender17%

FY17 - Private Sector Development

FY17 - Enterprise Development100%
- FY17 - Entrepreneurship17%
- FY17 - MSME Development100%
FY17 - Jobs17%
- FY17 - Job Creation17%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	75.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	75.00
IDA Commitment	N/A
IBRD + IDA Commitment	75.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	75.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

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Period	Financier	Transaction Type	Amount (US$)
Jun 14, 2019	IBRD-89840	Loan Commitment	75,000,000.00
Dec 7, 2023	IBRD-89840	Loan Disb	2,154,200.00
Oct 1, 2020	IBRD-89840	Int Charges	446.82
Apr 1, 2022	IBRD-89840	Int Charges	98,391.16
Feb 16, 2022	IBRD-89840	Loan Disb	3,973,365.00
Oct 1, 2021	IBRD-89840	Int Charges	103,544.48
Oct 1, 2021	IBRD-89840	Int Charges	69,674.98
Apr 1, 2021	IBRD-89840	Int Charges	83,491.35
Apr 1, 2021	IBRD-89840	Int Charges	56,662.88
Dec 29, 2020	IBRD-89840	Loan Disb	22,957,076.00
Jul 23, 2020	IBRD-89840	Loan Disb	193,800.94
Jul 23, 2020	IBRD-89840	Fee Charges	193,800.94
Apr 1, 2023	IBRD-89840	Int Charges	60,296.96
Apr 1, 2023	IBRD-89840	Int Charges	400,032.53
Oct 1, 2022	IBRD-89840	Int Charges	2,845.65
Oct 1, 2022	IBRD-89840	Int Charges	54,448.03
Oct 1, 2022	IBRD-89840	Int Charges	1,026.70
Oct 1, 2022	IBRD-89840	Int Charges	120,039.01
Apr 1, 2022	IBRD-89840	Int Charges	65,043.33
Jun 17, 2024	IBRD-89840	Loan Disb	9,649,466.00
Jun 17, 2024	IBRD-89840	Loan Disb	1,232,605.60
Apr 1, 2024	IBRD-89840	Int Charges	58,343.46
Apr 1, 2024	IBRD-89840	Int Charges	723,744.44
Oct 1, 2023	IBRD-89840	Int Charges	574,994.25
Oct 1, 2023	IBRD-89840	Int Charges	59,175.24
Oct 1, 2020	IBRD-89840	Int Charges	99,180.17

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Project Management	Moderately Satisfactory	2025-02-20
Procurement	Satisfactory	2025-02-20
Monitoring and Evaluation	Moderately Satisfactory	2025-02-20
Overall Implementation Progress (IP)	Moderately Satisfactory	2025-02-20
Progress towards achievement of PDO	Moderately Satisfactory	2025-02-20
Financial Management	Moderately Satisfactory	2025-02-20

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Private capital mobilized for innovative startups and SMEs through the project Value 0.00 34600154.81 55146667.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Private sector capital mobilized for innovative startups Value 0.00 32137421.99 40186667.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Private sector capital mobilized for innovative SMEs Value 0.00 2462732.82 14960000.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Innovative startups and SMEs receiving financing through the project Value 0.00 140.00 280.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Innovative startups Value 0.00 135.00 230.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Innovative SMEs Value 0.00 5.00 50.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Benefited from deal-flow and firm-level support provided by the project Value 0.00 129.00 112.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Women-owned or led startups and SMEs Value 0.00 73.00 56.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Innovative startups and SMEs located in interior regions Value 0.00 54.00 28.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Increase in annual revenue of beneficiary startups and SMEs three years after receiving support through the project Value 0.00 0.00 19.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Innovative startups Value 0.00 0.00 20.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Innovative SMEs Value 0.00 0.00 15.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Financial intermediaries receiving financing through the project Value 0.00 10.00 12.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Ecosystem intermediaries receiving grants through the project Value 0.00 19.00 15.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Project beneficiaries satisfied with the implementation of the project Value 0.00 97.43 75.00
Date June 14, 2019 June 15, 2022 December 31, 2026
Comment
Of which: Angel/VC funds Value 0.00 5.00 5.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Newly-established intermediaries (<1 year old) Value 0.00 3.00 5.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Financial and ecosystem intermediaries Value 0.00 100.00 75.00
Date June 14, 2019 June 15, 2022 December 31, 2026
Comment
Of which: PE funds Value 0.00 1.00 2.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Established intermediaries (>1 years old) Value 0.00 16.00 10.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Innovative startups and SMEs Value 0.00 96.77 75.00
Date June 14, 2019 June 15, 2022 December 31, 2026
Comment
Of which: Financial intermediaries receiving co-financing for direct investments Value 0.00 4.00 5.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Innovative startups receiving concept development grants through the project Value 0.00 103.00 75.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Women-owned or led startups Value 0.00 64.00 15.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Located in interior regions Value 0.00 48.00 8.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Innovative startups receiving investment readiness grants through the project Value 0.00 25.00 30.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Women-owned or led startups Value 0.00 8.00 6.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Located in interior regions Value 0.00 5.00 3.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Innovative SMEs receiving technology adoption and investment readiness grants through the project Value 0.00 0.00 30.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Women-owned or led SMEs Value 0.00 0.00 6.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment
Of which: Located in interior regions Value 0.00 0.00 3.00
Date June 14, 2019 January 29, 2024 December 31, 2026
Comment

Private capital mobilized for innovative startups and SMEs through the project	Value	0.00	34600154.81	55146667.00
	Date	June 14, 2019	January 29, 2024	December 31, 2026
	Comment

Of which: Innovative startups	Value	0.00	135.00	230.00
	Date	June 14, 2019	January 29, 2024	December 31, 2026
	Comment

Of which: Innovative SMEs	Value	0.00	5.00	50.00
	Date	June 14, 2019	January 29, 2024	December 31, 2026
	Comment

Of which: Angel/VC funds	Value	0.00	5.00	5.00
	Date	June 14, 2019	January 29, 2024	December 31, 2026
	Comment

Of which: PE funds	Value	0.00	1.00	2.00
	Date	June 14, 2019	January 29, 2024	December 31, 2026
	Comment

Of which: Innovative startups and SMEs	Value	0.00	96.77	75.00
	Date	June 14, 2019	June 15, 2022	December 31, 2026
	Comment

Of which: Women-owned or led startups	Value	0.00	64.00	15.00
	Date	June 14, 2019	January 29, 2024	December 31, 2026
	Comment

Of which: Located in interior regions	Value	0.00	48.00	8.00
	Date	June 14, 2019	January 29, 2024	December 31, 2026
	Comment

Of which: Women-owned or led SMEs	Value	0.00	0.00	6.00
	Date	June 14, 2019	January 29, 2024	December 31, 2026
	Comment

Tunisia Innovative Startups and SMEs Project

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

Detailed Financial Activity as of March 31, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS