An even higher default rate is expected for 2011 and beyond because of the revolution. The Fonds National de Promotion de lArtisanat et des Petits Metiers [National Fund for the Promotion of Crafts and Small Enterprises! The Banqne de Financement des Petites et Moyennes Entreprises (BFPME) [Small and Medium Enterprise Financing Bank] provides loans for larger ventures (between TND 100 000 and TND 5 million). Indeed, according to a OECD and IDRC (2012) study on New Entrepreneurs and High Growth Enterprises in the Middle East and North Africa, low enterprise activity rates in the region are in part due to the low levels of participation of women in the formal economic sphere, as both employees and business leaders.