AfDB loans Tunisia €60m to roll out economic recovery program

The African Development Bank, AfDB, Wednesday said it has lent Tunisia €60 million to back the North African country’s economic recovery plan and social inclusion, Webdo Tunis reports.

The credit line, according of the bank, will support the dynamics of economic recovery by improving the investment climate, preserving employment and promoting social inclusion through new mechanisms to respond to social challenges, exacerbated by the Covid-19 pandemic.

It also supports the improvement of the efficiency of social spending by streamlining social assistance programs and adopting a more targeted approach to beneficiary populations.

Tunisia is facing economic challenges further compounded by the impact of the pandemic. The North African country is the worst affected country in the Arab World and in Africa by the pandemic.

The country has turned to international lenders to back its battered economy and covid-19 vaccination campaign.

Several countries including Saudi Arabia, UAE, and Turkey have sent shipments of vaccine doses to ramp up the vaccination campaign, while Morocco, at the instructions of King Mohammed VI, granted Tunisia an emergency medical assistance consisting of two complete and autonomous intensive care units, with a total capacity of 100 beds. The assistance also include 100 respirators and two oxygen generators with a capacity of 33 m3 per hour each.