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World Bank announces $700m package for Tunisia

People wearing masks line up in front of stores due to the coronavirus (COVID-19) pandemic in Tunis, Tunisia on 11 May 2020 [Yassine Gaidi/Anadolu Agency]
People wear masks due to the coronavirus (COVID-19) pandemic in Tunis, Tunisia on 11 May 2020 [Yassine Gaidi/Anadolu Agency]

The World Bank has announced that Tunisia will this year be given a finance package of up to $700 million from several international institutions. The package will be within the framework of a reform programme to help the government respond to the effects of the coronavirus crisis.

"The reform programme comes in light of an international support package coordinated with aid in the field of macroeconomic and financial management from the European Union," explained the World Bank on Tuesday. "The total current portfolio of the World Bank in the Middle East and North Africa region is $20 billion." The MENA region will be granted exceptional financial support in the midst of double economic shocks, it added.

Tunisia's public finances have been damaged severely by the negative repercussions of the virus and the suspension of vital economic sectors for more than three months, most notably tourism.

As of Monday, the total number of Covid-19 infections in Tunisia had increased to 1,381, among which 50 people have died, and 1,099 have recovered. The pandemic continues to prevent the resumption of economic activities to the level that they were before coronavirus.

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AfricaCoronavirusNewsTunisia
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