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African Development Bank approves $500 million loan to Tunisia.

The funds, part of a fast-disbursing emergency support program, are being disbursed in a single tranche. This is a new approach that allows the African Development Bank to respond more pro-actively to the emergency needs of African countries.

The African Development Bank's move is part of an overall $1.4 billion program financed by the World Bank ($500 million), the European Union (EUR 90 million), and the French Development Agency (EUR 185 million).

The bank says it will work closely with the interim Tunisian government at the national, regional and local levels as well as with civil society and other stakeholders to ensure that the loan objectives are met, with clear and tangible results on the ground, especially in the poorest areas of the country.

2011 CPI Financial. All rights reserved.

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Publication:CPI Financial
Date:May 31, 2011
Words:139
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