São Paulo – The World Bank and the government of Tunisia signed a loan agreement worth US$ 100 million this Thursday (22nd). According to information released this Friday (23rd) by news agencies TAP and Panapress, the amount will be used for the development and strengthening of small and medium-size Tunisian companies.
The document from the World Bank detailing the loan’s conditions destines it to rekindle the country’s economy. In the World Bank’s evaluation, three years past the political revolution leading to ex-president Zine al-Abidine Ben Ali ousting in 2011, Tunisia’s economy has yet to recover and the loan to this sector may lead to job creation and growth.
According to information from the World Bank, Tunisia has 624,000 small and medium-size companies, accounting for 99.7% of all companies in the country and employing 1.2 million workers. These companies, however, face difficulties in contracting loans and obtaining funding.
In the World Bank’s view, a loan now may lead to economy’s expansion, job creation and the development of women-run business.
The documents shows that there are 620,000 unemployed people in the Arab country and measures to boost the growth of small and medium-size companies may have positive effects in job creation. This loan is part of a US$ 50 million investment started in 2013.
*Translated by Rodrigo Mendonça
