(Ecofin Agency) - The World Bank has committed the equivalent of $60.52 million ($150 million Tunisian Dinars) to Tunisia for the economic inclusion of disadvantaged youth. This funding aims to provide employment access services dedicated to companies and entrepreneurs, targeting youth ranging between 18 and 35 years old, in the country’s most disadvantaged areas.

The agreement was signed by the minister of development, investment and international cooperation, Zied Laâdhari (picture), and representatives of the World Bank, in Washington where was held from October 11 to 15, 2017, the annual spring meeting of the World Bank and the International Monetary Fund (IMF).

Two other agreements were also signed Monday between Tunisia’s authorities and the Islamic Development Bank (IDB). The first is for a loan of €57 million ($67 million), repayable over 20 years with an interest rate of 2% and a five-year grace period. The second is for a loan of €15 million ($17.63 million), repayable without interest over 15 years. The two facilities will be used to build the Saaïda dam at Cap-Bon and the Kalâa Kobra dam (Sousse).

Fiacre E. Kakpo