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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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Baghdad Fears Iranian Retaliation, Cites Iraq as Key Missile Route

Image of a drone launch from a video posted by the “Islamic Resistance in Iraq” on Telegram
Image of a drone launch from a video posted by the “Islamic Resistance in Iraq” on Telegram
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Baghdad Fears Iranian Retaliation, Cites Iraq as Key Missile Route

Image of a drone launch from a video posted by the “Islamic Resistance in Iraq” on Telegram
Image of a drone launch from a video posted by the “Islamic Resistance in Iraq” on Telegram

Politicians and analysts believe Iraq is particularly worried about a potential conflict between Iran and Israel. This is because Iraqi airspace and territory might be the main route for Iranian missiles.
While many Iraqis seem indifferent to the possibility of a war, there is a heated debate online. Some critics of Iran are dismissive of the threat, while its supporters expect a strong retaliation.
A political source close to the Coordination Framework warns that Iraq, given its location near both Iran and Israel, could be heavily affected by a conflict between Tehran and Tel Aviv.
The source, speaking to Asharq Al-Awsat under conditions of anonymity, noted that Iraq’s ability to prevent or handle the fallout from such a conflict is nearly nonexistent.
If a war breaks out, Iraqi territory will be exposed, similar to the situation in April when Iranian missiles flew over Iraq to strike Israel.
The source explained that Iranian attacks could happen in two ways: through missiles crossing Iraqi airspace or via missiles launched by Iranian-aligned factions inside Iraq.
In both cases, it would be very difficult for the Iraqi government to respond, given its lack of control over these groups.
There are also concerns that these factions might launch broader attacks on their own, even without direct orders.
Additionally, if the conflict escalates uncontrollably, Israel might target important infrastructure in Iraq directly. This includes possible threats to Basra’s ports, similar to past Israeli actions in Yemen, if Iraqi factions join the conflict on Iran's side.
Former diplomat Ghazi Faisal agrees that the Iraqi government has limited ability to avoid the fallout from a potential conflict between Iran and Israel.
Faisal told Asharq Al-Awsat that Baghdad is trying to stay neutral amid the regional tensions and conflicts, including those involving Iran.
Despite efforts to address factions responsible for past attacks, Faisal said the Iraqi government cannot control or deter armed groups linked to the Iranian Revolutionary Guard.
While the Iraqi government aims to avoid war and supports Palestinian rights, Faisal warned that Iraq’s stance could become divided if a conflict breaks out, due to the complex ties between local factions and Tehran.