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World Bank Grants $175 Million to Tunisia

World Bank Grants $175 Million to Tunisia

Monday, 17 June, 2019 - 11:30
A vendor displays clothing for sale at "Souk Libya" marketplace in the town of Ben Guerdane, near the Libyan border in Tunisia May 24, 2019. REUTERS/Zoubeir

The World Bank has granted Tunisia two loans totaling $ 175 million to finance digital transition programs, Tunisian Minister of Communications Technologies and Digital Economy Anouar Maarouf announced on Saturday.

Maarouf added that the funding would expedite the implementation of the national strategic program Digital Tunisia 2020 and provide ground for making Tunisia an international digital reference.

According to the ministry, the first loan worth USD100 million will be allocated to fund the digital transformation inside the Tunisian administration, while the second loan worth USD75 million will be dedicated for funding projects of emerging projects and SMEs in Tunisia.

Notably, restructuring the Tunisian administration is one of the reforms demanded by the IMF to receive consecutive loan installments from 2016-2020 worth USD2.9 billion.

Tunisian authorities seek to allocate a minimum of USD45 million of the total amount to establish the 'fund of the funds' that would fund emerging firms in Tunisia.

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