Banyan Global conducted an independent performance evaluation of the Tunisian American Enterprise Fund (TAEF) to take stock of the accomplishments and any challenges encountered by TAEF, as well as to garner other important lessons learned to inform future work of the Fund. Based on the evaluation findings and recommendations, USAID and TAEF’s board and management may consider any organizational or structural changes which may be necessary or helpful, as well as early indications of the Fund’s development impact, and current needs of the small and medium enterprise community.