Tunisia and the European Union (EU) on Wednesday evening officially launched the “Team Europe Initiative on Investment in Tunisia” in support of Tunisia’s national reform programme, as part of the 21st edition of the two-day Tunis Investment Forum (TIF2024).
Launched by EU Ambassador to Tunisia, Marcus Cornaro, the Team Europe initiative aims to boost public and private investments that create jobs, promote local development, environmental change and economic diversification.
Major new Team Europe projects include ELMED/ELMED+ in the energy sector, Medusa in the digital sector, the Sfax/Kasserine corridor in the transport sector and the revitalisation of micro, small and medium-sized enterprises (MSMEs) in the private sector.
These new projects add to the more than 120 projects underway or in the pipeline as part of the Team Europe initiative, with an estimated financial volume of more than 10 billion dinars for the period 2021-2027.
The Team Europe initiative on investment in Tunisia is a mobilisation of support for Tunisia’s national reform programme that brings together the European Union, five EU Member States (France, Germany, Italy, the Netherlands and Spain), technical and financial agencies, and multinational banks, namely the European Investment Bank and the European Bank for Reconstruction and Development, around a common objective based on three pillars.
The first pillar aims to improve the business climate and the general framework for investment, in particular by supporting the acceleration of structural reforms, but also by improving the delivery of public services to citizens and economic operators and by strengthening the trade partnership between Tunisia and the European Union.
The second pillar is to improve the economic infrastructure for a resilient and decarbonised economy, in particular through sustainable and affordable energy for households and businesses and better access to quality and affordable digital infrastructure.
The third pillar is to improve access to finance for micro, small and medium-sized enterprises (MSMEs), in particular by promoting financial inclusion, finding alternative forms of financing or mobilising credit lines for inclusive entrepreneurship, decent job creation and local added value, without losing sight of quality technical assistance.
The Team Europe initiative is part of the European Union’s “Global Gateway” strategy, which aims to mobilise €300 billion of investment between 2021 and 2027 to support a sustainable global recovery.
“These initiatives aim to strengthen the coherence and coordination of the combined support provided by the members of Team Europe in order to promote programmes that can have an impact and transform partner countries.”
The initiative includes a package of projects that Tunisia is working to implement in cooperation with the European Union, Minister of Economy and Planning Feryel Ouerghi Sebai told reporters after the opening session of the Tunis Investment Forum, adding in a related context that the initiative aims to implement activities to boost the national economy.
EU Ambassador Marcus Cornaro told reporters that the initiative, which includes a financing package among other agreements, translates the enthusiasm to give impetus to the revitalisation of the private sector.
