Tunis — The value of private agricultural investments approved by the Agricultural Investment Promotion Agency (French: APIA) fell 9.6% to TND 118.9 million during the first five months of 2024 compared with the same period in 2023, reads a report published Wednesday by APIA.

Compared with the first 5 months of the 2018-2022 period, private agricultural investment edged down 53.5%, helping create 960 permanent jobs.

Approved investments for young people stood at TND 17.3 million. Approved investment operations for communitarian companies totalled TND 1.3 million, while investments with foreign participation amounted to TND 3.5 million against TND 0.3 million during the first five months of 2023.

A total of TND 39.1 million in subsidies was allocated for approved investments, that is 32.9% of the investment volume. Subsidies for the acquisition of agricultural equipment stood at TND 14.4 million (44.8% of all subsidies).

The credit rate fell to 27%. Approved investments in photovoltaic equipment rose to TND 3.3 million with TND 1.7 million in subsidies.

Regional development investments shrank to TND 4.4 million compared with TND 5.2 million in the first five months of 2023.

Grant Committees approved 11 land loans worth TND 1.6 million down from 19 worth TND 3.1 million in 2023. These loans are expected to help include 84 hectares of land into the economic cycle.

Private agricultural investments reported over the first five months of 2024 amounted to TND 604.7 million, down 7% on the same period in 2023, and up 0.6% compared with the first 5 months of the 2018-2022 period.