Article 13 of the 2027 Finance Bill: A New Funding Line to Boost Startup Equity
Article 13 of the draft 2027 Finance Bill establishes a new funding line of 10 million dinars (MDT), drawn from the resources of the National Employment Fund, active for the period 2027–2028. The primary objective of this initiative is to grant interest-free participatory loans aimed at strengthening the equity of certified startups.
The Small and Medium Enterprises Financing Bank (Banque de financement des petites et moyennes entreprises) has been designated as the manager of this funding line. This role is formalized through a tripartite agreement involving the Ministry of Finance and the Ministry of Employment.
A Strategic Response to Market Challenges
The nature of this aid, classified as quasi-equity, represents a significant positive development for young enterprises. The current economic context is challenging, characterized by credit tightening and increased pressure on liquidity. Typically, startups in their early stages face a structural obstacle: the difficulty of accessing equity capital and the banking sector’s reluctance to lend in the absence of tangible collateral.
This mechanism is expected to create a financial leverage effect, which is essential for reassuring private investors. By strengthening the balance sheets of innovative young companies, this instrument will indirectly contribute to the sustainability of highly qualified jobs for higher education graduates.
Targeted Support and Implementation Challenges
This measure is highly targeted and demonstrates a clear commitment to consolidating the achievements of the Startup Act by addressing seed financing and reinforcing the financial health of innovative startups.
However, the success of this initiative will largely depend on the speed and flexibility of the disbursement procedures, which are yet to be defined. Furthermore, rigorous monitoring will be required to ensure that beneficiary entities do not perceive these financings as grants, thereby maintaining the integrity of the quasi-equity structure.
