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World Bank approves $120m Tunisia loan 

February 11, 2023 at 1:45 pm

The World Bank is seen in Washington D.C., United States [Celal Güneş – Anadolu Agency]

The World Bank Board of Executive Directors has approved a $120 million loan for Tunisia to fund small and medium enterprises, the World Bank confirmed earlier this week.

According to the World Bank, the loan aims to finance Tunisian institutions for lending to eligible small and medium-sized enterprises (SMEs).

“SMEs play a key role in the Tunisian economy. The COVID-19 pandemic and the war in Ukraine have caused macroeconomic imbalances in Tunisia, which have exacerbated challenges faced by SMEs and weakened their performance and financial health,” indicated Alexandre Arrobbio, the World Bank country manager for Tunisia.

“Through this project and other financial sector support programmes, the World Bank, together with our partners, are pursuing support for the Tunisian government’s recovery plan,” Arrobbio explained.

Arrobbio added: “This plan includes pivotal financial sector reforms that the authorities are undertaking to strengthen financial sector regulation and supervision, further develop financial infrastructure, and promote broader financial inclusion.”

READ: Inflation hits 10.1% in Tunisia