Tunis/Tunisia — The European Bank for Reconstruction and Development (EBRD) Board of Directors approved a new country strategy for Tunisia for the 2018-2023 period, the bank announced on Tuesday in a press release.
The document that was drafted in consultation with the authorities, business associations and civil society organisations sets out four key priorities for the EBRD's engagement in Tunisia.
According to the press release, EBRD will commit to supporting the competitiveness of Tunisian companies by opening markets and strengthening governance and promoting economic inclusion for women, young people and populations living in remote areas through private sector engagement.
The bank will also strengthen the resilience of the financial sector and broadening access to finance and support Tunisia's transition to a green economy.
"After the Arab Uprising in 2010, Tunisia started an inclusive process of political transition but the country still faces challenges in its move to a sustainable market economy, where the private sector can thrive and create quality jobs," the strategy says.
"EBRD began its operations in Tunisia in 2012, and has become the largest international financial institution developing the country's private sector, supporting small businesses and engaging in policy dialogue. The Bank is helping to mobilise private investment, contribute to the implementation of the government's development plan and support reform efforts for job creation and inclusive growth", the press release added.
Since the start of its operations there, the EBRD has invested over €730 million across 34 projects in Tunisia. To date, the Bank has also supported 670 small and medium-sized enterprises in the country with business advisory services through its dedicated Advice for Small Businesses programme.