France has just released EUR 100 million to Tunisia, through the French Development Agency, in fulfillment of the announcement by French Foreign Minister, Alain Juppe, during his visit on January 5 and 6, 2012, the French embassy in Tunis announced Wednesday.
This funding is part of the Deauville Partnership, launched under the French presidency of the G8. It injects nearly 200 million TND of fresh money to the Treasury of Tunisia, a few days before the revision of the Finance Act 2012. It also increases the foreign exchange reserves held by the Central Bank of Tunisia, to the tune of EUR 100 million, said the embassy.
This support is complemented by an active technical cooperation in several areas key to the transition underway in Tunisia. Thus AFD, along with several other donors (mainly the European Union, the World Bank and the African Development Bank) supports major reforms to modernize the tools of the Department of Employment and to develop the regulatory framework for micro finance and capital investment.
These factors play a considerable role in the training of young entrepreneurs and small business owners who have the ambition to expand their business. All these actions are intended to improve employment.
The support of France to the Tunisian transition amounts to EUR 425M for the years 2011 to 2013 which will be crucial for the country’s economic recovery.
In 2011, AFD signed for the benefit of the Tunisian state financing agreements totaling more than EUR 200 million. It will sign again almost EUR 100 million in 2012, for new projects supporting regional balance and social development (drinking water distribution, neighborhoods …). It also proposes to adapt the current projects to new priorities.
The AFD has also proposed to accelerate the implementation of ongoing projects, which would provide additional funds to Tunisia, in important sectors such as vocational training, engineering, and business financing and micro finance, major infrastructure and improving the quality of life of Tunisians, the same source added.