Manama, Bahrain, 7 April 2016 – New funding from the Islamic Development Bank (IDB) will contribute to improving the lives of people in Tunisia and support the government’s goal to combat poverty and unemployment in the country.

The agreements contribute to the funding of US $27.7 million for the Sfax Integrated Agricultural Development Project. They also provide US $200,000 in grants to support Tunisia’s Ministry of Development and International Cooperation.

They were signed by IDB Group President Dr. Ahmad Mohamed Ali and H.E. Yassin Ibrahim, Tunisia’s Minister of Development, Investment and International Cooperation, who is also IDB Governor for Tunisia. The signing took place during the Joint Meeting of Arab Financing Institutions on 5-6 April.

The Sfax project will support investment in infrastructure and boost agricultural harvest and dairy production. It advances Tunisia’s goals to combat poverty in rural areas, tackle unemployment and promote its global status as an important country for growing olives and producing olive oil.

Capacity building for government staff
The technical assistance grant will facilitate capacity building in Tunisia’s Ministry of Development and International Cooperation to improve the productivity of the ministry’s staff.
It will help the ministry improve strategic planning, better coordinate investment and development opportunities, supervise development projects and increase its technological skills through training, exchange of expertise. It will also provide an office and information technology equipment.

Tunisia is a founding member of IDB, which has been maintaining solid cooperation with the Bank. To date, IDB Group approvals for the country surpass US $4 billion for development initiatives and infrastructure projects.