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AfDB Approves 92.3 Million Euros to Improve Living Conditions in Tunisia

Tunisian President Kais Saied meets with Italian Prime Minister Giorgia Meloni in Tunisia on April 17, 2024 (EPA)
Tunisian President Kais Saied meets with Italian Prime Minister Giorgia Meloni in Tunisia on April 17, 2024 (EPA)
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AfDB Approves 92.3 Million Euros to Improve Living Conditions in Tunisia

Tunisian President Kais Saied meets with Italian Prime Minister Giorgia Meloni in Tunisia on April 17, 2024 (EPA)
Tunisian President Kais Saied meets with Italian Prime Minister Giorgia Meloni in Tunisia on April 17, 2024 (EPA)

The African Development Bank (AfDB) said on Tuesday it approved a financing package of 92.3 million euros to support business competitiveness and empower the Tunisian population through job creation, according to the German news agency, dpa.

The financing consists of a 90-million-euro loan from the Bank Group, and a grant of 2.3 million Euro under the Affirmative Finance Action for Women in African (AFAWA) initiative.

It aims to provide young people and women looking for work with the skills they need to access salaried jobs, to improve living conditions and promote economic inclusion through entrepreneurship and skills development.

The Tunisian government forecasts that the program could enable the creation of more than 118,000 formal jobs.

Tunisia struggles with economic difficulties that have led to a decline in public sector employment, due to a fiscal crisis, in addition to widespread unemployment among young people and university graduates.

The unemployment rate in Tunisia stands at 16.1% according to the latest data. The unemployment rate for youth in the 15-24 age bracket rose to 39.2% while the unemployment rate among people with a higher education degree reached 23.4%.

Last June, the European Union, the EIB, AFD Group and KfW announced a major joint investment of 270.9 million euros to support Tunisia's entrepreneurial ecosystem.

Also, two credit lines worth 170 million euros and 80 million euros, and 10.5 million euros for the Dhamen Express guarantee facility, were deployed to increase access to finance for MSMEs in Tunisia.

At least 30% of the funds from the EIB and 35% of those from AFD went to projects promoting social inclusion, targeting women, youth employment and less-favored areas, as well as the green economy and climate resilience.

This initiative underscored the commitment of the EU, the European Investment Bank (EIB), Agence Française de Développement (AFD) and Kreditanstalt für Wiederaufbau (KfW) to support projects that have a high social impact and promote the economic recovery of Tunisia’s micro, small and medium-sized enterprises (MSMEs), taking a Team Europe approach.

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Syria President Vows those Involved in Church Attack will Face Justice

The attack was the first of its kind in the Syrian capital since Islamist-led forces toppled longtime ruler Bashar al-Assad in December - AFP
The attack was the first of its kind in the Syrian capital since Islamist-led forces toppled longtime ruler Bashar al-Assad in December - AFP
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Syria President Vows those Involved in Church Attack will Face Justice

The attack was the first of its kind in the Syrian capital since Islamist-led forces toppled longtime ruler Bashar al-Assad in December - AFP
The attack was the first of its kind in the Syrian capital since Islamist-led forces toppled longtime ruler Bashar al-Assad in December - AFP

Syrian interim President Ahmed al-Sharaa vowed Monday that those involved in a "heinous" suicide attack on a Damascus church a day earlier would face justice, calling for unity in the country.

The shooting and suicide bombing Sunday at the church in the working-class Dwelaa district of the Syrian capital killed 25 people and wounded 63, the health ministry said, raising an earlier toll of 22 killed.

The authorities said the attacker was affiliated with the Islamic State group.

"We promise... that we will work night and day, mobilising all our specialized security agencies, to capture all those who participated in and planned this heinous crime and to bring them to justice," Sharaa said in a statement, AFP reported.

The attack "reminds us of the importance of solidarity and unity of the government and the people in facing all that threatens our nation's security and stability", he added.

Condemnation has continued to pour in from the international community after the attack -- the first of its kind in the Syrian capital since the toppling of longtime ruler Bashar al-Assad in December.

It was also the first inside a church in Syria since the country's civil war erupted in 2011, according to a monitor, in a country where security remains one of the new authorities' greatest challenges.

Since the new authorities took power, the international community has repeatedly urged the government to protect minorities and ensure their participation in Syria's transition, particularly after sectarian violence in recent months.