Tunisia To Get $500M AfDB Budget Support

A protester waves the Tunisian flag. The African Development Bank has approved a $500 million loan to help restore social and economic stability in the country. Photo by: Nasser Nouri / CC BY-NC-SA

The African Development Bank approved on May 30 a $500 million loan designed to help restore social and economic stability and promote inclusive growth in Tunisia.

The budget support, which will be disbursed in a single installment, is part of the $1.4 billion package from AfDB, the World Bank, the European Union and the French Development Agency.

The $500 million budget support will be used to immediately address key priorities of the Tunisian people, including better access to social services, stronger citizen voice and accountability, and more and better jobs.

AfDB President Donald Kaberuka also confirmed the bank’s long-term commitment to Tunisia and other North African countries. He said AfDB is ready to provide up to $7 billion to the region in the coming years.

Economic support for Tunisia, Egypt and other Middle East and North African countries was one of two key pillars of the Deauville Partnership, which outlines G-8 leaders’ commitment to assist the economic and political transitions of countries in the MENA region.

>> G8 Eyes Up to $40B in Aid for MENA Countries

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.