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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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Yemen’s Deputy PLC Chairman to Asharq Al-Awsat: Houthis Have Halted Peace Efforts

A photo distributed by the Houthis showing the targeting of a ship in the Red Sea with an explosive-laden drone boat (AFP)
A photo distributed by the Houthis showing the targeting of a ship in the Red Sea with an explosive-laden drone boat (AFP)
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Yemen’s Deputy PLC Chairman to Asharq Al-Awsat: Houthis Have Halted Peace Efforts

A photo distributed by the Houthis showing the targeting of a ship in the Red Sea with an explosive-laden drone boat (AFP)
A photo distributed by the Houthis showing the targeting of a ship in the Red Sea with an explosive-laden drone boat (AFP)

A senior Yemeni official affirmed that ongoing peace efforts have stalled due to actions by the Houthis, who continue to dig trenches in the mountains, stockpile weapons, and target international shipping in the Red Sea.

These actions contradict UN-led peace initiatives aimed at ending the war in the country.

Yemen’s Deputy Presidential Leadership Council (PLC) Chairman, Othman Mujalli, told Asharq Al-Awsat that peace efforts have stalled because the Houthis have ignored proposals and continue their violations.

“They’re digging trenches, storing weapons, and starting fights across all fronts, including border areas,” he said.

Mujalli stressed that the Yemeni government is acting with restraint, considering the suffering of the Yemeni people caused by the Houthi coup, which has led to widespread destruction, economic collapse, and ongoing crises that the Houthis exploit.

Separately, British maritime security agencies reported several explosions near two commercial ships in the Red Sea off Yemen’s coast, with no injuries or damage.

Mujalli believes only the Yemeni people can defeat the Houthis, who threaten their lives.

He warned that the Houthi militia is a serious threat to Yemen, the region, and global interests through their terrorist activities in the Red Sea, a critical international shipping lane.

Mujalli criticized the Houthis for actions that undermine peace and said: “While our partners work for peace, we in the legitimate government fully support their efforts.”

In a meeting with US Ambassador Steven Fagin, Mujalli highlighted the Houthi attacks on pomegranate farmers in Saada, where attempts to impose taxes and force low-priced sales have sparked unrest.

Some farmers have even left their crops to rot rather than sell under these conditions.

Mujalli welcomed the growing international recognition of the Houthis’ actions as blackmail.

Additionally, Mujalli praised Saudi Arabia for its quick humanitarian response, providing urgent aid to those affected by recent floods in Taiz, Hodeidah, Hajjah, and Marib through the King Salman Humanitarian Aid and Relief Center.