October 19, 2018

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World Bank approves $5 billion loan to Tunisia

World Bank approves $5 billion loan to Tunisia

The World Bank approved a five-year plan to lend Tunisia up to $5 billion to support economic reforms aimed at reviving growth and creating jobs, the bank said on Wednesday.

The North African country is struggling with lower tourism revenue after Islamist militant attacks last year, protests over unemployment and slow progress on economic reforms that have lagged political advances made since its 2011 uprising.

Tunisia’s parliament recently approved laws on banking and on strengthening central bank autonomy to shield its board from political interference, two reforms sought by the country’s international lenders.

“(The) new five-year strategy of support… will provide up to $5 billion in loans to Tunisia to restore economic growth and create jobs,” the bank said in statement. Read more

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