The World Bank has just approved $ 175 million in funds support to assist Tunisia in coping with the outcomes of the coronavirus pandemic (COVID-19). The agreement correlating to this support, earmarked under the Emergency Operation and support for development policies for resilience and recovery, was signed on Monday.
The financing is part of a major coordinated international support program to help Tunisia manage the coronavirus crisis, to which the World Bank, involve contributions from the German bank KfW, French Development Agency (AFD), the Japanese Agency for International Cooperation (JICA) and the African Development Bank.
It was also closely coordinated with macro-financial assistance provided by the European Union.The financial envelope of the joint operation will amount to between 600 and 700 million dollars in 2020.
The objective of this international support is to help Tunisia protect vulnerable businesses and households from the effects of the COVID-19 crisis and to carry out essential economic reforms to enable Tunisia to improve its recovery potential after the crisis, as well as its competitiveness in a context that is leading countries to rethink global value and distribution chains.