Japan Says Financial Aid for Tunisia Hinges on IMF Deal

Japan will consider financial assistance to Tunisia once an International Monetary Fund (IMF) deal is reached. (Reuters)
Japan will consider financial assistance to Tunisia once an International Monetary Fund (IMF) deal is reached. (Reuters)
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Japan Says Financial Aid for Tunisia Hinges on IMF Deal

Japan will consider financial assistance to Tunisia once an International Monetary Fund (IMF) deal is reached. (Reuters)
Japan will consider financial assistance to Tunisia once an International Monetary Fund (IMF) deal is reached. (Reuters)

Japan will consider financial assistance to Tunisia once a deal with the International Monetary Fund (IMF) is reached, head of the Japan International Cooperation Agency (JICA) Tanaka Akihiko has announced.

Tunisian Minister of Economy and Planning Samir Saied signed last week a memorandum of understanding (MoU) for several projects in many sectors, such as infrastructure, renewable energy, and others.

The projects will be presented to Japanese officials to obtain the necessary financial funds.

The Fund's approval is Japan's top condition to launch the projects.

The Japanese official added that the IMF deal would be the basis for discussions with financial institutions, including JICA.

"Once an agreement concluded, Tunisia will be required to introduce necessary economic reforms," he said.

Japan will be ready to provide financial assistance when reforms are undertaken.

The Fund required an "economic reform package" directed towards subsidizing essential consumer products, reforming the financial balances of central government institutions and the tax system, and reducing wages in the public sector.

Economist and financial expert Ezzeddine Saidane said that obtaining funds from major international financial institutions are coupled with the progress of Tunisia's negotiations with the IMF.

Saidane said Tunisia is awaiting the IMF's approval for the economic reforms program to be implemented between the two parties.

He stressed that organizing major economic forums and conferences is essential to explaining the advantages of investment in Tunisia, noting that establishing an appropriate investment environment is essential.

The expert stressed that the state is required to lead the investments, indicating that in 2010, it invested about 25 percent of the country's budget for development, which now dropped to no more than three percent.

Saidane believes that if the state is reluctant to invest, local and foreign private entities will not be incentivized to invest.

The Tokyo International Conference on African Development (TICAD 8), which was held last weekend in Tunis, resulted in presenting a set of economic projects, including 81 by the Tunisian private sector.

A set of agreements was also signed during the conference.

The Tunisian government submitted 47 projects to the Japanese financing institutions in several fields, including health, environment, higher education, infrastructure, water desalination, transportation, renewable energies, and green economy.

Japan provided Tunisia with financial aid of $100 million to mitigate the repercussions of the coronavirus pandemic.



Aramco Inaugurates Regional Center for Sustainable Fishery Development on Abu Ali Island

tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
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Aramco Inaugurates Regional Center for Sustainable Fishery Development on Abu Ali Island

tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco

Saudi Aramco announced on Thursday the inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture.

Through this collaboration, Saudi Aramco aims to highlight its investments in citizenship initiatives and its efforts to drive economic growth, support local fishermen and their livelihoods, build expertise, and adopt the best practices to enhance production and cultivate fish of marketable sizes that can compete globally.

The center is part of the company's broader efforts to protect marine life in the Arabian Gulf. It involves the establishment of a fish hatchery on Abu Ali Island in Jubail, located on the Arabian Gulf coast, designed to produce local fish species that have experienced population declines due to fishing practices and to reintroduce them into Gulf waters.

The center's operations are designed to encompass the complete fish life cycle within designated tanks, from broodstock for egg production to larval rearing using plankton produced on-site and finally to the release of juvenile fish into the Arabian Gulf. The hatchery employs advanced aquaculture technologies to ensure fish health, and it utilizes top-tier water recycling techniques to enhance performance and meet the company's circular economy objectives.

The project aligns with Saudi Aramco's mangrove plantation initiative, under which more than 43 million trees have been planted to date. Mangrove forests provide vital nursery habitats for the juvenile fish released into the Gulf, further supporting the sustainability of marine ecosystems.