ISFD Board Approves Flagship HOPE Finance Project for Tunisia
ISFD Board Approves Flagship HOPE Finance Project to Empower Tunisian Youth and Women Entrepreneurs
Jeddah, Saudi Arabia – December 15, 2024 – The Board of Directors of the Islamic Solidarity Fund for Development (ISFD) and Board of Executive Directors (BED) for the Islamic Development Bank (IsDB) approved the “HOPE Tunisia: Youth and Women MSMEs and Entrepreneurship Support” project during a meeting on 15th of December 2025. This groundbreaking initiative marks the first pilot project under the flagship HOPE Finance “Harvesting opportunities for Poverty Eradication” Program, a collaborative effort between ISFD, IsDB Global Practice and Partnership Directorate, IsDB Country Programs Directorate, and IsDB Institute.
The project aims to alleviate poverty and empower communities in the Republic of Tunisia by providing smallholder farmers, cooperatives, and micro, small, and medium enterprises (MSMEs) with a comprehensive solution. This includes affordable blended financing, tailored technical assistance, access to markets, and capacity building. The project will focus on 14 interior governorates in the country and will seek to boost productivity, ensure sustainability, and create a resilient food ecosystem within Tunisia’s agriculture and food sectors.
The expected impact of the project is significant. It is projected to create or preserve 66,680 direct and 99,961 indirect jobs in the agri-food sector and related industries. Additionally, the project will provide access to finance for 31,500 micro-enterprises, 945 cooperatives, and business associations, empowering them to generate income and contribute to economic growth.
The total cost of the project is estimated at Euro 198.84 million, with contributions from various partners, including the IsDB, ISFD, Africa Development Bank, the United Nations Industrial Development Organization (UNIDO), UN Women, and the Tunisian Government.
"We are delighted to see this project come to fruition," stated Dr. Hiba Ahmed, ISFD Director General. "It represents a significant stride in our mission to empower young and female entrepreneurs in Tunisia. By providing them with the necessary tools and resources, we aim to enable them to establish sustainable businesses and contribute meaningfully to the country’s economic development. We are grateful to our partners for their support in making this project a reality.”
