The United States (US) has donated USD 335 million to Tunisia to help boost the Northern African country’s economy and social development.
With the funding, the US hopes to stimulate entrepreneurial growth and help advance the nature of governance in Tunisia. The funding will remain under the coverage of a U.S. cooperation and support program that extends over five years. The agreement kicked off this year and will expire in 2024.
According to reports, the donation will be channeled towards boosting private enterprises, creation of employment opportunities for Tunisia’s youth and better governance.
The gesture is also seen as away by the The United States to show its support to the country’s democratic transition, according to Tunisia’s Minister of Development and International Cooperation, Zied Ladhari.
According to Ladhari, the United States Agency for International Development (USAID) decided to deepen its footprint in Tunisia as part of its plan to mature bilateral cooperation. The agency also wants to support the Arab nation on its journey to development.
Currently, the unemployment rate in Tunisia stands at 15.40 percent. Meanwhile, the country’s presidential and parliamentary elections in 2014 marked the start of a new democratic era. After the first wave of the Arab Spring, Tunisia retained its position as the only country to successfully transitioned from authoritarian to democratic rule.
