World Bank Announces $500M Loan For Tunisia
RABAT, Morocco (AP) â¿¿ The World Bank has announced a half billion dollar loan to Tunisia to support economic reforms to improve the North African country's investment climate.
The bank's statement late Tuesday said the loan "sends a clear signal" about the global financial institutions efforts to support Tunisia as it makes a transition to democracy.
Tunisians overthrew their dictator in January 2011, sparking off region-wide pro-democracy uprisings.
The loan will support reforms to remove red tape for investments, improved financial sector regulation, training programs for youth and increased government transparency.Tunisia's economy shrank by 2 percent in 2011 after the uprising and is only recovering slowly, plagued by severe unemployment.
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