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Thursday 2 February 2023
HomeNewsProgress of procedures to sign USD 500-million grant agreement reviewed

Progress of procedures to sign USD 500-million grant agreement reviewed

The progress of procedures relating to the signing of the USD 500-million grant agreement to be made available under the “the Millennium Challenge» to support Tunisia in the economic and social development fields was reviewed at a meeting Monday between Minister of Economy and Planning, Samir Saied and Ambassador of the United States in Tunis, Donald Blome.

This U.S. grant is intended for two priority sectors of reform, namely shipping and logistics and improving the mobilisation of water resources.

The Millennium Challenge Corporation’s (MCC) Board of Directors last June 30 voted unanimously to approve a $498.7 million compact with the Government of Tunisia to strengthen Tunisia’s transportation, trade, and water sectors.

The MCC-Tunisia Compact, a five-year grant program, includes projects designed to make trade with Tunisia easier and less expensive by investing in the management, expansion, and digitization of the Port of Rades, as well as improve the management and conservation of the country’s groundwater resources.

Blome affirmed the U.S. administration’s commitment to continue supporting Tunisia in various areas, including in the renewable and clean energy and diversification of products and tourism resources.

He stressed his country’s willingness to back the reform programs that will be put in place to give the national economy a fresh impetus likely to strengthen its competitiveness and allow it to create new opportunities for comprehensive and sustainable development.

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