World Bank plans to lend $5b to Tu­nisia over 5 years

The Pak Banker - - FRONT PAGE -

The World Bank has an­nounced it is plan­ing to lend Tu­nisia $5 bil­lion over five years to sup­port the coun­try's demo­cratic tran­si­tion and re­vive its econ­omy. The an­nounce­ment was made on Fri­day by the Bret­ton Wood in­sti­tu­tion's Coun­try Man­ager, Eileen Mur­ray. "The bank has de­vel­oped a strat­egy for five years and plans to lend Tu­nisia $1 bil­lion per year," Eileen Mur­ray told Reuters.

Tu­nisia's coun­try man­ager for the World Bank added that; "We have con­fi­dence in Tu­nisia's tran­si­tion and will con­tinue to sup­port its econ­omy and to finance in­fra­struc­ture projects and fi­nan­cial and ed­u­ca­tion sec­tors." The North African coun­try is strug­gling with low tourism rev­enue af­ter Is­lamist mil­i­tant at­tacks last year, protests over un­em­ploy­ment and slow progress on eco­nomic re­forms since the 2011 up­ris­ing.

The coun­try's econ­omy has dipped since the 2011 re­volt against au­to­crat Zine ElAbidine Ben Ali, which sparked the Arab Spring rev­o­lu­tions across North Africa and the Mid­dle East. The coun­try's tourism in­dus­try ac­counts for 7 per­cent of gross do­mes­tic prod­uct.

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