Tunisia to Receive Help of $1.1 Billion from African Development Bank

Tunisia to Receive Help of $1.1 Billion from African Development Bank

It has been revealed that Tunisia is going to borrow a sum of as much as $1.1 billion from the African Development Bank.

The bank is also expected to lend a similar amount of money to Egypt. There has been a pact made with 77 member development bank’s meet. There was a loan amount of about $500 million signed for the support of Tunisia. This is because of the many advancements and revolutions that the nation would be eyeing upon this year.

The loan is actually one of the steps in the emergency funding aid for Tunisia. This is provided by the World Bank, the French Development Agency as well as the European Union. "I expect between now and the end of the year, we will have committed to Tunisia up to $1.1 billion”, Donald Kaberuka.

He further added that we were among the first few nations which agreed to shell money for Tunisia. He further added that they are working on a number of projects right now, the total value of which might be about $600 million.

A similar amount would be given to Egypt for their use. There has not yet been any sort of commitment made to them so far, but the delegates are travelling to Cairo in hopes of positive discussions.

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