The World Bank plans a US$1.2 billion financial package this year for Tunisia, its President Jim Yong Kim announced after a meeting last week with Tunisian Prime Minister Mehdi Jomaa at World Bank headquarters. The World Bank said in a statement that the amount is four times more than the pre-revolution period and doubling the amount provided post-revolution.
Kim congratulated the Tunisian Prime Minister on the adoption of the country’s new constitution, one of the region’s most progressive, and for the consensus which has provided confidence and a sustainable path for Tunisia’s future.
“The ratification of Tunisia’s new constitution and the appointment of the interim government in January give us great hope that Tunisia’s transition will now speed up, opening up greater economic opportunity for all. That is why we are substantially increasing our support,” the President of the World Bank said.
He added: “Tunisia is setting the example for all countries in the Middle East and North Africa, and we now need to do all we can to support development during this critical transitional period.”
Inger Andersen, World Bank Regional Vice President for the Middle East and North Africa, said that the World Bank’s financing planned for 2014 would include:
Up to US$750 million in support of government reforms to level the economic playing field and promote growth and job creation, while increasing accountability in the delivery of services to citizens;
A US$300 million project focused on building up the capacities of local government will support the provisions on decentralization in the new constitution;
US$100 million investment for a credit facility aimed at supporting Banks that give small and medium enterprises much needed access to credit;
US$50 million for a project designed to promote exports will help identify sector where Tunisia can be particularly competitive;
And as part of a continuing collaboration with the national water authority, a US$20 million project is scheduled for this year that will provide the greater Tunis metropolitan area with another water pumping station.