The European Commission has approved the disbursement of €150m in macro-financial assistance to Tunisia.
The loan, which represents the third disbursement under the EU’s second programme of macro-financial assistance to Tunisia, is issued conditionally; with the proviso that a set of specific policy measures aimed at boosting economic security and implementing social reforms must be completed. The Commission recognises that the Tunisian government has taken concrete steps to enact reform, including implementing policy to:
- Combat corruption;
- Improve the quality of public administration provision;
- Improve levels of social protection;
- Develop a more equitable taxation system;
- Enhance policies on the labour market; and
- Reduce unemployment, particularly among young people.
Tunisia began to implement its economic transition and reforms in 2011; and the EU has pledged to continue its support for Tunisia as it continues to address its institutional challenges still in need of reform. Since the initial proposal of its second programme of macro-financial assistance to Tunisia in 2015, the EU has provided €800m in macro-financial funding to the region.
Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, said: “This disbursement underlines our sustained commitment to supporting Tunisia and its people. While the country has delivered on key policy commitments these past years, pursuing and deepening economic and structural reforms remains essential to building on Tunisia’s democratic and political achievements, and securing a more prosperous future. We thus stand ready to work closely with Tunisia to help deliver on the reforms necessary to secure investment, jobs and inclusive growth for the benefit of its people, notably its youth.”
The EU has acted as a key partner in Tunisia’s transition into a modern democratic state since the Tunisian revolution of 2011. The two established a Privileged Partnership in 2012; and the EU continues to offer support and development funding to Tunisia through a range of its international development instruments.