Tunisia will receive $500 million in support from the United States under the cooperation deal between the two countries. Announcement was made by Tunisia’s finance minister, Ali Kooli (pictured), during an interview with Reuters yesterday May 17.

The official said the funds will be channeled through the Millennium Challenge Corporation and be used in several projects mainly in the water and transport sectors. Part of the money will also support rural women. Moreover, Tunisia has successfully negotiated a loan guarantee with the US to facilitate bond issues and support its economy.

The implementation of these projects as well as the issuance of bonds will allow the country to revive its economy, which in 2020 suffered an 8.8% contraction. Despite the transition to a democratic regime, the economic difficulties compounded by the coronavirus pandemic have caused a wave of social protests in the country, often in spite of the measures put in place by the government.

As part of his visit to Washington, the Tunisian Minister of Finance initiated negotiations with the International Monetary Fund (IMF) to obtain a financial support program.

Carine Sossoukpè (intern)