World Bank lends $ 300 million to Tunisia to fight poverty

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The World Bank has allocated $ 300 million to Tunisia to help support more than one million Tunisian families living below the poverty line, the office of President Kais Saied said on Monday.

The announcement came following a meeting between the Tunisian president and Férid Belhadj, World Bank Group vice-president for the MENA region.

Financial support, the office said, has been allocated under Tunisia’s social program.

The North African country whose economy is timidly reborn from the ashes of the 2011 revolution that swept over President Ben Ali, has been ravaged by the coronavirus pandemic.

Authorities said in October that the pandemic slowdown would result in the loss of 165,000 jobs. The country’s statistical agency expects unemployment to worsen to 26%, from the already high 18% in the first six months of 2020.

The Tunisian economy is also facing the specter of external debt, which rose in June to 60% of GDP, representing 30 billion euros.


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