2012年-世界发展银行全球_Tunisia_Agricultural_Finance_Study___Main_Summary_Report_40页_316kb

Tunisia Agricultural Finance Study Summary

Core Content

This report provides an analysis of the agricultural finance landscape in Tunisia, highlighting key challenges, international experiences, and policy recommendations aimed at improving the financial services available to the agricultural sector.

Main Summary Report

Part A: The State of Agricultural Finance in Tunisia

• Access to Agricultural Finance: Limited, with only 7% of farmers benefiting from bank loans. Banks finance just 11% of total agricultural investment, while 70% is covered by "own resources", which likely includes supplier and purchaser credit.
• Credit Utilization: The share of investment funded by credit has halved over the last five years. Seasonal credit covers only 1/14th of agricultural input use.
• Agricultural Insurance: Only 7% of farmers are formally covered by agricultural insurance, and no coverage exists against drought, which is the main natural hazard in Tunisia.
• Financial Sector Characteristics: Tunisia has a well-regulated and supervised financial sector dominated by commercial banks. However, the sector is highly fragmented, with no private bank holding more than 15% of the market share.
• Loan Recovery Issues: As of December 2010, 13% of loans were classified as non-performing. Provisioning coverage is only around 60%, which is inadequate.
• Role of the National Agricultural Bank (BNA): BNA is the primary financier of agriculture, holding 36% of bank lending to the sector. However, it has a poor record in loan recovery and offers products not tailored to smallholders.
• Smallholder Challenges: Smallholders face significant difficulties in accessing credit, often due to their records in the Public Credit Registry (PCR) and the lack of suitable collateral.
• Economic Contribution of Agriculture: In 2008, agriculture accounted for 12% of GDP, 9% of exports, 16% of the labor force, and 7% of total investment. It plays a crucial role in rural livelihoods and employment, especially in interior provinces.

Part B: Selected Cases of International Experience

• The report draws on successful agricultural finance models from other countries, emphasizing the need for tailored approaches and institutional reforms.

Part C: Recommendations

The report proposes a series of reforms across five clusters:

Cluster I: Reforms of the Microfinance Sector

• Approve a new law on microfinance to regulate the transition of Microcredit Associations (MCAs) to private sector institutions.
• Provide technical assistance and capacity building for MCAs to improve their rural microfinance operations.
• Transform MCAs into strong microfinance institutions (MFIs) with a new legal status.
• Develop a legal framework for the management of inherited farm estates and for-profit producer organizations (POs).

Cluster II: Improve Risk Management Systems

• Reform the National Guarantee Fund (FNG) to align with international best practices.
• Develop drought risk mitigation measures, including index-based weather insurance and a natural calamity fund for non-insurable risks.
• Expand access to PCR data for other financial service providers to improve credit risk assessment.

Cluster III: Facilitate Integration of Producer Organizations

• Encourage partnerships between MCAs and POs, starting with pilot projects.
• Create Credit Management Units within POs to improve their access to various financing mechanisms.

Cluster IV: Address Over-Indebtedness of Farmers

• Cancel unrecoverable debts of farmers to help them return to formal economic circuits.
• Create new legislation on debt negotiation and counseling to support over-indebted persons.
• Publish an annual report on the state of indebtedness in the agricultural sector to promote transparency and public discussion.

Cluster V: Improve Quality of Service Delivery

• Abrogate supervised loans that place risk on the treasury.
• Revise the terms and conditions of BNA loans to improve processing speed and reduce transaction costs.
• Facilitate the financing of new technologies through technical information and studies, and ensure such loans are eligible for FNG guarantees.

Part D: Areas for Additional Analysis

• The report recommends further analysis on the effectiveness of existing subsidy schemes and the potential for private sector involvement in agricultural finance.

Key Issues Identified

• Fragmented Financial Sector: Commercial banks are risk-averse and lack the capacity to serve smallholders effectively.
• Inadequate Credit Coverage: Only 11% of agricultural investment is financed by banks, with most coming from "own resources".
• Over-Indebtedness: Approximately 120,000 smallholders are barred from formal borrowing due to PCR records.
• Lack of Collateral Alternatives: Financial institutions rely heavily on land titles, which are often not enforceable.
• Ineffective Agricultural Insurance: Insurance coverage is limited to fire and hail, with no mechanisms for drought protection.
• Poor Performance of Cooperatives and MCAs: MCAs and cooperatives are under-resourced and have limited reach.
• Declining Terms of Trade: Agricultural prices are informally capped, and terms of trade have deteriorated, affecting profitability.

Expected Impacts of Recommendations

• Improved Access to Credit: For smallholders and rural populations.
• Increased Agricultural Investment: Through better financing mechanisms and support for new technologies.
• Better Risk Management: Through improved guarantee schemes and insurance mechanisms.
• Enhanced Financial Discipline: By improving transparency and access to credit data.
• Reduced Government Burden: By eliminating inefficient and risky lending programs.
• Strengthened Institutional Capacity: Through legal reforms and capacity building.

Cost Estimates and Priorities

Conclusion

The study emphasizes the need for comprehensive and coordinated reforms to improve agricultural finance in Tunisia. These reforms include legal and institutional changes, enhanced risk management, and better integration of smallholders into the financial system. The Ministry of Agriculture (MoA) is encouraged to adopt a more market-oriented approach, engaging with the private sector and promoting the development of new financial instruments and services.