The Tunisian government has officially launched its interest-free loan program, known as the "prêt d'honneur," on October 1, 2026. This initiative allows individuals and businesses to borrow up to 25,000 dinars without interest or guarantees. The program aims to facilitate access to financing for small projects and small- and medium-sized enterprises (SMEs). According to the program's guidelines, individuals can borrow up to 5,000 dinars for consumption needs, while those with small projects can borrow up to 10,000 dinars, and SMEs can borrow up to 25,000 dinars.
The loan program has already generated significant interest, with some banks reportedly exhausting their allocated quotas shortly after the launch of electronic platforms. Expert Sofiene Weriemi noted that the absence of interest and guarantees does not automatically guarantee access to financing. Banks are still required to assess the borrower's repayment capacity, which for individuals involves verifying income and salary deductions, and for businesses, involves evaluating financial statements and auditor reports.
The program has different repayment terms, with a maximum repayment period of two years and a six-month grace period. Borrowers can submit applications online through dedicated platforms, and the date and time of submission are electronically recorded to establish a priority order when resources are limited. However, being the first to submit an application does not guarantee acceptance, as banks must verify the borrower's eligibility, assess their repayment capacity, and provide written justification for any rejection.
To ensure the program's effectiveness, banks are required to dedicate at least 8% of their previous year's profits to the loan program. This provision allows the mechanism to potentially renew itself from one year to another. However, the available resources depend directly on the profits made by the concerned institutions. Estimates suggest that the total credits available for the program are around 120 million dinars, although the exact amount remains uncertain.
The program's success will depend on its ability to balance accessibility with risk management. While the loan removes certain classical barriers to credit, it does not eliminate the responsibility to repay. The Central Bank of Tunisia's verification process ensures that borrowers do not already have an outstanding loan. Nevertheless, the risk of default remains, and banks must carefully evaluate borrowers' creditworthiness to avoid compromising the program's sustainability.
Experts emphasize that financing alone is not sufficient to guarantee a project's success. Experience from Tunisia's Réseau des entrepreneurs and international examples demonstrate that accompanying support is crucial. This support can include assistance with business planning, market studies, and follow-up. The French model, for instance, uses the interest-free loan as leverage to help project leaders strengthen their equity and secure additional financing from banks.
As the program moves forward, the Tunisian government will need to address concerns over available resources and ensure that the loan program is accompanied by adequate support services. The program's impact will depend on its ability to strike a balance between facilitating access to credit and managing risk. With the right approach, the interest-free loan program could provide a vital lifeline for small projects and SMEs in Tunisia, helping to drive economic growth and development.
Key points
- The Tunisian government has launched an interest-free loan program, known as the "prêt d'honneur," to support small projects and SMEs, with loans available up to 25,000 dinars without guarantees.
