The World Bank on 27 November approved a $500mn loan to Tunisia intended to support key reforms in the country’s political transition after last year’s revolution. The “governance, opportunity and jobs development policy loan,” as it is called, will also help to bring about stronger economic growth and job creation over the medium term. In June 2011 the Bank approved three loans to Tunisia totaling $920mn to support the transitional government put in place critical changes such as the access to information and liberalization of the internet.
The new loan aims to accelerate Tunisia’s economic recovery by providing quick assistance for reforms designed to encourage fair and sustained growth for every segment of society. The reform program focuses on four important areas: improving the business environment by removing red tape and increasing transparency for investments; strengthening financial sector stability; reforming key social services; and advancing transparency through more transparent budget preparation and reporting. (CONTINUED - 271 WORDS)