tunisia

World Bank approves a $67 million loan to support the Tunis West Sewerage Project

Thursday, 6 July 2006
The World Bank Board of Executive Directors has approved today a loan with the amount of $66.8 million to support the Tunis West Sewerage Project.
The proposed project aims at improving the quality of sanitation services in Greater Tunis, promoting the reuse of treated wastewater in irrigation and enhancing performance of the sewerage authority (ONAS) through financial and operational management capacity building.

World Bank approves a $76 million loan to support higher education in Tunisia

Saturday, 15 June 2006
The World Bank’s Board of Executive Directors has approved an International Bank for Reconstruction and Development (IBRD) $76 million loan to support the Tunisian Government’s program that emphasizes higher education as a determining factor in improving employment, competitiveness and the creation of a knowledge-based society.
The proposed project will increase access to the public higher education system and support the Government’s ambitious reform program to improve quality.

World Bank approves a $38 million loan to Tunisia-National Public Water Supply Utility

Thursday, 17 November 2005
The World Bank has approved today a $38 million loan to the National Public Water Supply Utility (SONEDE) -with the Guarantee of the Republic of Tunisia- for an urban water supply project.
The project aims at sustaining the reliability and quality of water service in Greater Tunis and selected urban centers; through augmentation, upgrade and renewal of the water supply infrastructure; and enhancing the competitiveness and sustainability of SONEDE operations; through modernization of management practices and information systems; for better cost control, enhanced revenue and more responsive customer service.
Tunisia has achieved the highest access rates to water supply and sanitation services among middle-income countries in MENA through sound infrastructure policy. Ninety-six percent of urban dwellers and 52% of the rural population already have access to improved sanitation. However, the water supply sector faces specific challenges, including increased demands and scarce resources; and SONEDE must strengthen its efficiency while delivering high quality water and customer service.

Tunisia's Baa2 foreign-currency bond rating, stable outlook are supported by economic stability but, constrained by a large debt -- Moody's

Wednesday, 5 October 2005
Moody's rating agency has announced that Tunisia's Baa2 foreign-currency bond rating and stable outlook are supported by economic stability but, constrained by high debt levels.
On 17 April 2003, Moody's had upgraded Tunisia to Baa2. In 2000, the investors service changed Tunisia outlook to positive. And in 1995, Moody's assigned Baa3 foreign-currency debt rating to Tunisia.

World Bank approves a $150 million loan for Tunisia-Fourth Economic Competitiveness Development Policy Program

Thursday, 9 June 2005
The World Bank’s Board of Executive Directors has approved today a $150 million loan for Tunisia.
The program supports: (a) maintaining a sound and reactive macroeconomic framework, in particular by promoting fiscal consolidation and strengthening the medium term fiscal framework; (b) improving private investment climate and increasing private investment opportunities; and (c) reinforcing the financial sector’s capacity to finance growth, by supporting initiatives to reduce the level of non-performing loans, further strengthening the regulatory framework for bank intermediation, and fostering development of contractual savings, especially in the insurance sector.

World Bank approves a $8.5 million Tunisia-Energy Efficiency Program/Industrial Sector Project

Thursday, 4 November 2004
The World Bank’s Board has approved today a $8.5 million Tunisia-Energy Efficiency Program/Industrial Sector Project. This project aims to overcome barriers to the development of a sustainable market for energy efficiency products. In addition to the removal of institutional, and capacity-related barriers, the project aims to establish energy services companies (ESCOs).
The project consists of three main components: a targeted Global Environment Facility (GEF) pilot phase project for energy efficiency investments; a GEF Partial Guarantee Fund, aimed at enabling the establishment of ESCOs; and technical assistance for building the capacity of ESCO candidates, financial institutions, and for testing newly introduced energy efficiency products.

World Bank extends a $36 million loan for the Second Export Development Project (EDP II) in Tunisia

Thursday, 1 July 2004
The World Bank has approved today a $36 million loan for the Second Export Development Project (EDP II) in Tunisia. This project will build upon and anchor more deeply the institutional reforms started under the First Export Development Project (EDP I) with the aim of creating a conducive export environment and encouraging trade.
More than 40 percent of Tunisia’s total exports are concentrated in clothing, with 75 of total exports bound for the European Union.

World Bank approves a $13 million loan to support Tunisia's Information and Communication Technologies (ICT) sector

Thursday, 1 July 2004
The World Bank has approved today a $13 million loan to assist Tunisia in promoting development of its Information and Communication Technologies (ICT) sector.
The project will improve e-security mechanisms, develop e-government applications and promote the participation of the private sector.

World Bank lends Tunisia $200-300 million a year to tackle pressing socio-economic challenges during 2004-2008

Thursday, 3 June 2004
      The World has lent its support this week for a new country assistance strategy (CAS), aimed at supporting the Government of Tunisia in tackling pressing socio-economic challenges for the period July 2004 to June 2008. The CAS will be starting fiscal year 2005, and will include a lending program in the range of $200-300 million a year.
       With an average life expectancy of 72 years and low infant, child and maternal mortality rates, Tunisia has made steady and rapid progress in social development. Poverty was sharply reduced in the second half of the 1990s from about 8 percent of the population in 1990 to 4 percent or 400,000 people in 2000. Tunisia has also significantly closed the gender gap in education, reduced fertility and built strong legal rights and privileges for women.
       Reform efforts since the early 1990s, sound macroeconomic policies and deeper trade integration in the global economy have improved the economy's competitiveness. Growth has been resilient, even when Tunisia faced an unfavorable external environment, reaching 5.5 percent in 2003.
      However, Tunisia faces challenges to reduce unemployment which remains high at 15 percent; to improve the quality, relevance and financial sustainability of the education system; and to boost the performance of social programs.

IFC provides up to $50 million loan to Banque Internationale Arabe de Tunisie

Tuesday, 25 May 2004
The International Finance Corporation (IFC) has signed an agreement to provide up to $50 million in the form of subordinated debt to Banque Internationale Arabe de Tunisie (BIAT). The loan will be structured to qualify as Tier II capital, the first such financing in Tunisia, in line with Banque Centrale de Tunisie, the central bank, guidelines. The transaction marks the introduction of an alternative source of capital in Tunisia and represents IFC's first investment in the country since 1998.
BIAT is the largest private bank and the third largest bank in Tunisia in terms of asset size and equity. It operates as a full-service bank, offering corporate, SME and retail banking services. Founded through the merger in April 1976 of the local branch operations of the British Bank of the Middle East and of the French bank Société Marseillaise de Crédit, it is listed on the Tunis and London (through GDRs) stock exchanges.

World Bank's approves a $130 million loan for Education Quality Improvement Program II

Wednesday, 10 March 2004
      The World Bank's Board of Executive Directors has approved a $130 million loan for the second phase of an ongoing program to promote excellence in learning and teaching in Tunisia's schools, while continuing to ensure the inclusion of children at all levels of the basic education system.
      The Education Quality Improvement Program (EQIP) II will specifically seek to boost the enrollment rate for boys and girls in the age groups of 6-18 years, as well as the completion rate of basic education.
       Covering the period 2004-2007, The EQIP II will support developing stronger links between secondary education and vocational training and higher education institutions. It will also help diversify the secondary education curriculum to make it more relevant to the Tunisian society and economy.

President Bush calls upon Tunisia to move ahead in press freedom; the rights to organize and work peacefully for reform; the need for free and competitive elections and equal justice under law

Wednesday, 18 February 2004
President George W. Bush met today with President Zine El Abidine Ben Ali of Tunisia. President Bush emphasized his desire for Tunisia to move ahead in areas such as press freedom;" said White House Press secretary Scott McClellan, "the rights of Tunisians to organize and work peacefully for reform; the need for free and competitive elections; and equal justice under law."

Tunisia played a role in urging Libyan leaders to put resources into development rather than wasting them on WMD -- State

Tuesday, 6 January 2004
"Tunisia has been a voice for putting effort and resources into development rather than wasting them on arms races or conflict or weapons of mass destruction," said State Department Spokesman Richard A. Boucher on the occasion of Tunisian Foreign Minister Habib Ben Yahia's visit. "And that's the kind of role that we think Tunisia has played in discussions with Libyan leaders as well as the kind of role it continues to play in the region."
The Spokesman added, "Libya's behavior, Libya's weapons of mass destruction program, certainly comes up just about every time we talk to the Tunisians."

President Ben Ali will visit Washington on February 17

Tuesday, 2 November 2003
      Secretary Colin L. Powell has announced that he extended an invitation to Tunisian President Zein al-Abdeen ben Ali to visit the U.S. on February 17.
       In a press availability in Tunisia, Secretary Powell said, "We’re looking forward very much to the President’s visit."
       President Ben Ali's State Visit scheduled on 13 July 2000 was potponed.

Moody's upgrades Tunisia's rating to Baa2 from Baa3

Thursday, 17 April 2003
Moody's rating agency has upgraded Tunisia's rating to Baa2 from Baa3.
On 30 September 2002, Moody's reported that Tunisia's Baa3 rating and positive outlook were due to perform strides and deepening integration with the European Union. And on 25 June 1999, the Investors service assigned Baa2 rating to Tunisia's local-currency Government debt.

World Bank considers providing a $6 million loan to support Tunisia-Gulf of Gabès Marine, Coastal Resources Protection project

Monday, 3 March 2003
      The World Bank is considering providing a $6.19 million Global Environment Facility (GEF) loan to support Tunisia-Gulf of Gabès Marine and Coastal Resources Protection project with a total cost of $8.44 million.
       The main objective of the proposed project is to protect biodiversity of Mediterranean-wide and international importance; and promote more harmonious economic development based on the sustainable management of the marine and coastal natural resources.
       The specific objectives of the project are: a) to develop mechanisms for the integrated biodiversity management of the Gulf of Gabès at six (6) pilot sites and implement them on three (3) priority pilot sites; and, b) to identify the long-term institutional and technical resources required to reverse the current trend of biodiversity degradation through involvement of the communities concerned within a framework of promoting sustainable participatory development.

President Bush directs $5 million drawdown from the stocks of Defense, military education and training for Tunisia

Wednesday, 14 August 2002
"I here direct the drawdown of defense articles and services from the stocks of the Department of Defense, and military education and training," said President George W. Bush in a memorandum for the Secretary of State and the Secretary of Defense, "of the aggregate value of $5 million for Tunisia."