From All Africa

World Bank (WB) Group President Jim Yong Kim announced, Tuesday, that the organisation plans US $1.2 Billion financial package this year for Tunisia. The World Bank specified in a statement that “this amount is four times more than the pre-revolution period and doubling the amount provided post-revolution.”

The announcement came after a meeting last week between Kim and Tunisian Prime Minister Mehdi Jomaa at World Bank Headquarters. “The ratification of Tunisia’s new constitution and the appointment of the interim government in January give us great hope that Tunisia’s transition will now speed up, opening up greater economic opportunity for all. That is why we are substantially increasing our support,” Kim said. “Tunisia is setting the example for all countries in the Middle East and North Africa, and we now need to do all we can to support development during this critical transitional period.”

Inger Andersen, World Bank Regional Vice President for the Middle East and North Africa said that the World Bank’s Financing planned for 2014 would include:

Up to US$750 million in support of government reforms to level the economic playing field and promote growth and job creation, while increasing accountability in the delivery of services to citizens;

A US$300 million project focused on building up the capacities of local government will support the provisions on decentralization in the new constitution;

US$100 million investment for a credit facility aimed at supporting Banks that give small and medium enterprises much needed access to credit.

Read more at All Africa