Tunis — Following the agreement by The World Bank's (WB) Board of executive directors on April 3, 2009, the WB granted Tunisia a 250 million dollar loan to help boost the integration and competitiveness of the Tunisian economy.

The loan is a major component of the new World Bank/Tunisia country partnership strategy that focuses on promoting the Tunisian economy's integration in the market, as well as fostering job creation.

Along with the financial support of the African Development Bank (ADB) and the European Development Bank (EDB), the loan should also reduce trade transaction costs and increase Tunisia's global economic integration, improving the business climate, and enhancing the competitiveness of Tunisian firms, including services and strengthening the financial sector to increase its capacity to finance private investment.

The loan will also help Tunisia finance its budget deficit and maintain macroeconomic stability in the current international economic environment especially as the government does not intend to seek financing from the international bond market in 2009.

The agreement was signed on Tuesday by the Development and International Cooperation Minister Mr Mohamed Nouri Jouini and the WB Director for the Maghreb, Mr Mats Karlsson.