BRUSSELS (BNO NEWS) -- The European Union (EU) on Tuesday approved two new financial assistance programs worth a total of €110 million ($159.1 million) for Tunisia.
The first program, which has a budget of €90 million ($130 million), is aimed at supporting the economic recovery measures recently adopted by the Tunisian government, while the second program targets increasing the dynamism and competitiveness of the Tunisian economy through a budget of €20 million ($29 million) for national modernization policies in the services sector.
With the first program, the EU said it would be supporting economic reforms formulated by the government to reinforce the process of economic and political transition. The program mainly targets helping the hitherto particularly disadvantaged social groups - the inland regions, unemployed graduates, the poorest families - and improving governance, job creation, and guaranteeing greater transparency around the activities of the public administration.
Meanwhile, the second €20 million ($29 million) service competitiveness support program is aimed at strengthening the institutional capacities of the intermediary organizations, strengthen the capacity of Tunisian businesses to develop exports that can compete internationally and improve the sector's business environment by better defining of its needs.
"The economic recovery support program demonstrates the European Commission's support for the recovery measures taken by the Tunisian government and its confidence in the future potential of the Tunisian economy," Štefan Füle, Commissioner for Enlargement and European Neighbourhood Policy, stated.
"The Commission is determined to support the efforts of the authorities rapidly to restore stronger growth in order to promote job creation, improve social conditions for the most disadvantaged Tunisians and reduce disparities between regions," Füle added.
Since the start of the Tunisian revolution in January, the European Commission has released further assistance for Tunisia to support the electoral process, civil society organizations, the reinforcement of fundamental freedoms and local development. The Commission is currently drawing up a new Support Program for less‑favored areas. A decision will be taken on this program in the near future.
These two programs are part of the additional aid being provided by the EU to Tunisia following the revolution, aimed at supporting the political and economic transition by improving economic and social conditions and developing new sources of employment.
In addition to the EU programs, the World Bank, the African Development Bank and the French Development Agency will also be supporting these measures with different loans.