The World Bank’s Board of Directors approved two new loans worth US$520 million Thursday, providing additional financing to address Tunisia’s food security challenge and to balance regional disparities through improved road corridor connectivity in the country, the World Bank said. “The two projects are aligned with the World Bank’s Country Partnership Framework (CPF) 2023-2027 for Tunisia, which aims to strengthen human capital and increase economic opportunities countrywide,” said Alexandre Arrobbio, World Bank Country Manager for Tunisia. “In close partnership with the Tunisian Government, we’ve also synchronized the projects with key national…
Category: business
Tunisian Banks Can Help Meet Growing Sovereign Financing Needs (Fitch Ratings)
The Tunisian banking sector can continue to help meet the sovereign’s increasing financing needs in 2024 as healthy deposit growth and weak credit demand support sector liquidity, Fitch Ratings says. The sector’s total exposure to the sovereign should increase slightly as a result after declining in 2023.In the absence of an agreement with the IMF and given the scarcity of other sources of external funding, Tunisia has increasingly relied on the domestic financial sector, and banks in particular, to finance its budget. The 2024 budget envisages a 20% increase in…
Swiss group Zuhlke engineering settles in Tunisia
The Foreign Investment Promotion Agency (FIPA Tunisia) has announced that Predrag Poposki, Project and Investment Lead of the Swiss group Zühlke Engineering, announced during his meeting on Wednesday, March 6 with Jalel Tebib, Managing Director of FIPA Tunisia, that the group has decided to set up in Tunisia. Founded in 1968 and established in some ten countries and specialising in strategy, innovation and the development of digital solutions and applications, Zühlke Engineering decided to set up in Tunisia for several reasons, including the availability of engineering talent, strategic positioning, proximity…
EU releases €150 million in financial support for Tunisia
– This grant is intended to support “Tunisia in stabilising its macroeconomic situation and in its efforts to improve the management of public finances and the business climate”. The European Commission has announced that the European Union (EU) has disbursed €150 million in financial support to Tunisia. This is what emerges from a press release published by the European Commission, explaining that “the disbursement of this financial support in the form of a grant forms part of the programme of support for Tunisia’s macro-economic reforms (PARME), agreed by the EU…
Connect’Innov Champions Healthtech Innovation in Tunisia
Connect’Innov supports businesses in Tunisia by promoting entrepreneurship and technological innovation in the healthcare sector. It offers a range of services from pre-incubation to business acceleration. Connect’Innov is a Tunisian support institution dedicated to identifying, supporting and promoting innovation in the field of health technologies, in particular e-health, medtechs and biotechnologies. It was founded in 2020 by biochemist Wafa Bchir and accountant Hichem Radoine. It offers pre-incubation and outreach services with ongoing training for entrepreneurs and researchers. It also creates start-ups and supports innovative projects, offering incubation and acceleration programmes…
Tunisia: 6.500 schools will be powered by solar panels
The German Development Bank financed the project by granting a loan of around 55 million euros, in addition to contributions from the Energy Transition Fund and the National Energy Control Agency Around 6.500 educational institutions and schools in Tunisia will be powered by solar energy. Last Friday, March 1 was inaugurated at the Hannibal Institute in Tebourba, in the northern province of Manouba, the program includes a solar station for the self-production of electricity with a capacity of 28 kilowatts, on a total of 55 buildings. The German Development Bank…
Gas Exporting Countries Forum 7th Summit opens in Algiers
The 7th summit of the Forum of Gas Exporting Countries (FPEG) opened in Algiers on Saturday, aimed at safeguarding the interests of gas producers and consumers, according to Xinhua. In his opening speech, Algerian President Abdelmadjid Tebboune stressed the crucial role of the forum in meeting contemporary challenges, advancing sustainable development and responding to growing global demand for energy. Tebboune reaffirmed the Forum’s commitment to supporting long-term contracts, fair pricing mechanisms and substantial investment in the gas sector. Senior officials and industry leaders from Qatar, Iraq, Mauritania, Tunisia, Iran, Senegal,…
Eco-construction show: Building industry celebrates its revolution
The eco-construction and innovation trade fair which has just come to a close, on Thursday 29 February 2024, in Tunis at the headquarters of the Tunisian Union of Industry, Commerce and Handicrafts (UTICA), on the theme of “Ecological Transition: Opportunities for Building and Public Works, Opportunities for Tunisia” with the participation of nearly 35 exhibitors and professionals including architects, engineers, builders, property developers, craftsmen and industrialists. The show offered “innovative and practical eco-construction and eco-management solutions for buildings and housing”, and gave visitors the opportunity to find out about the…
Tunisia, JICA sign agreement on sustainable use of water resources
The Japanese International Cooperation Agency (JICA) signed a grant agreement with the Tunisian government on February 26 to provide a grant of up to 3,208 million yen for the construction of an advanced wastewater treatment plant in Gabès, JICA reported. The project aims to set up a new advanced wastewater treatment plant alongside the existing one in Gabès while ensuring its efficient operation and maintenance. This will enable the stable use of recycled water as industrial water and, by conserving water resources, will contribute to improving the living environment and…
Italy-Tunisia: First 22 million euro tender for SME projects is underway
A Next Italy-Tunisia programme, in collaboration with the national authorities of the two countries and the financial support of the European Union, announces the launch of the first call for projects. With a budget of 22.245.034 euros, the tender represents an opportunity for small and medium-sized businesses (SMEs), agenzianova reports. The territories involved include nine Sicilian provinces and 16 Tunisian governorates, thus offering a broad field of action for bilateral cooperation initiatives. Stakeholders eligible for the call include universities, research institutions, non-profit organisations, private companies, national and regional public authorities, as…