The European Bank for Reconstruction and Development may start investing in Tunisia as early as September, the bank’s chief said last week, while visiting the African country.
This is part of EBRD’s plan to expand its mandate to include North Africa and Middle East, where it is expected to offer economic assistance similar to what it provides to Eastern European countries.
“We are aware of the needs of countries in transition and we can offer our expertise and our ‘know how’ to Tunisia,” EBRD President Thomas Mirow said in a press release.
At its annual meeting in London later this month, EBRD is set to ask stakeholders to finalize the €1 billion ($1.3 billion) special fund that will kick-start these investments. EBRD is expected to invest the funds in the following areas: private sector development, financial sector improvement and small and medium-sized enterprises development.
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