USD 335 Mn Worth Of U.S. Support Will Go Into Tunisia’s Economic Development In Five Years
In a bid to boost economic and social development, the United States has granted donations worth USD 335 Mn to Tunisia.
The commitment was designed to encourage entrepreneurship in the North African country and improve its nature of governance. The donation stays under the umbrella of a U.S. cooperation and support program that extends over five years. The agreement kicked off this year and will terminate in 2024.
Jobs And Development
The funds will go into projects that encourage private initiative, create jobs for Tunisia’s youth, and better governance. The United States also wants to support the country’s democratic transition, according to Tunisia’s Minister of Development and International Cooperation, Zied Ladhari.
Per a report from the minister, the United States Agency for International Development (USAID) decided to deepen its footprint in Tunisia as part of its plan to mature bilateral cooperation. The agency also wants to support the Arab nation on its journey to development.
Little High; Little Low
The current unemployment rate in Tunisia stands at 15.40 percent. Meanwhile, the country’s presidential and parliamentary elections in 2014 marked the start of a new democratic era. After the first wave of the Arab Spring, Tunisia retained its position as the only country to successfully transitioned from authoritarian to democratic rule.
Tunisia was the foundation of the 2011 Arab Spring that ended the autocratic rule of several Arab leaders. Due to ceaseless terrorist attacks over the years, the country’s unemployment rate has been increasing. What got affected most of all was its tourism sector, which is now, however, sparking back to life.
The one person who was looked upon as the backbone of the country’s development passed on in July. President Beji Caid Essebesi died before the completion of his five-year term in November. The put the country into uncertainty, even as tension brews as regards who will win the snap elections on September 15.
