• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

$500m Tunisia loan to revive economy

Jan 24 2013 19:31 Reuters
Tunisia flag

AFP

Related Articles

Businessman to revive Tunisia's economy

Shell wins $150m oil deal in Tunisia

Tunisia sells stock in confiscated firms

Premier: Tunisian economy to grow 3.5%

G8 billions to support Arab Spring

World Bank approves loan for Tunisia

 
Tunis - The World Bank has approved a $500m loan to Tunisia to support its 2013 budget and help its economy after the first Arab Spring uprising that toppled its former ruler, a minister said on Thursday.

Two years after the revolution that ousted President Zine al-Abidine Ben Ali, increasing numbers of Tunisians are staging street protests to demand jobs and economic development.

The new loan follows another of the same amount last November to support economic recovery by providing funds to improve the business and financial sectors and reform social services.

"The World Bank approved a loan of $500m to support Tunisia's budget in 2013," Riadh Bettaib, minister of investment and international cooperation, said.

Tunisia, whose uprising sparked political changes across North Africa, said in November it is seeking a $2.5bn loan from the IMF, and Fund officials said last Friday discussions were under way to establish what was needed.

The Islamist-led government has sought to revive the economy hit by a decline in trade with Europe and by policy disputes between secularists and hardline Salafi Islamists.

Jim Yong Kim, the president of the World Bank, said on Wednesday in Tunis he was optimistic about the future of Tunisia though it needed painful reforms to revive its economy.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

tunisia  |  economy  |  world bank
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Nkandla: Zuma 'still looking for undue benefit'

President Jacob Zuma has told supporters at an election rally in Mpumalanga that he had not wrongfully benefited from the upgrade to his Nkandla home.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...