Global Arab Network | Restoring socio-economic stability - African bank offers 0 millon to Tunisia

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Restoring socio-economic stability - African bank offers $500 millon to Tunisia

Global Arab Network - - Maha Karim

Tuesday, 31 May 2011 01:08

Restoring socio-economic stability - African bank offers $500 millon to Tunisia

Global Arab Network - The African Development Bank (AfDB) Board of Executive Directors approved a $ 500 million-loan to Tunisian government to help restore socio-economic stability in post-revolution Tunisia and engender inclusive economic growth that benefits all Tunisians.

This fast-disbursing emergency support program, disbursed in a single installment, is a new approach that allows the African Development Bank to better respond to the emergency needs of African countries.

This AfDB financing is part of an overall USD 1.4 billion program financed by the World Bank (USD 500 million), the European Union (EUR 90 million), and the French Development Agency (EUR 185 million).

The loan program will immediately address the demands of Tunisians, heard so audibly during the revolution.

It consists of three key pillars: reduce regional disparities by improving access to social services in underserved regions; create and preserve jobs; and strengthen citizen voice and accountability.

The AfDB also vowed to work closely with the Tunisian government at the national, regional and local levels as well as with civil society and other stakeholders to ensure that the loan objectives are met, with clear and tangible results on the ground, especially in the poorest areas. (KUNA)

Global Arab Network

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