US gives Tunisia $335m 'to support democratic transition'

Update US gives Tunisia $335m 'to support democratic transition'
The money over 5 years is to support Tunisia's democratic transition. (Shutterstock)
Updated 28 August 2019
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US gives Tunisia $335m 'to support democratic transition'

US gives Tunisia $335m 'to support democratic transition'
  • The aid will be financed by the US Agency for International Development (USAID)

TUNIS: The United States has agreed to give Tunisia financial aid worth $335 million over five years to support its democratic transition, the Tunisian Development and International Cooperation Ministry said Wednesday.
The aid will be financed by the US Agency for International Development (USAID).
"Aid will fund projects that encourage private initiative, create new employment opportunities for young people, and improve governance towards supporting democratic transition", the ministry said in statement.
Tunisia was the spark of the Arab Spring revolts that toppled a number of authoritarian regimes around North Africa and the Middle East.
Only in Tunisia, however, did a peaceful transition to democracy follow, but the country remains mired in an economic crisis that has bred discontent especially among young people.
Unemployment stands at about 15 percent, up from 12 percent in 2010, due to weak growth, low investment, and high inflation, which was 6.5 percent last month. Impatience is rising among lending institutions