World Bank Group-member, International Finance Corporation (IFC) targets to provide $300 million each year to the private sector in Tunisia to increase its participation in the country’s economy.
“Tunisia has tremendous potential, but the government cannot drive economic growth alone,” Mouayed Makhlouf, IFC Director for the Middle East and North Africa said while announcing IFC’s support to the country in its economic transition.
IFC will assist Tunisia in creating a favourable business environment for the private sector with the potential to drive innovation, create jobs and deliver the infrastructure projects that will lay the foundation for the country’s future.
The world’s largest development institution that supports the private sector in emerging markets invested $1.5 billion in the MENA (Middle East and North Africa) region last year.
Makhlouf made the announcement while on a two-day visit to Tunisia, his second in three months.
In November 2016, the IFC official attended Tunisia 2020, a national discussion on the country’s economic development where he signed an agreement to help Tunisia develop public-private partnerships in the water, power and transport sectors.
IFC has been working to help create jobs, bolster local infrastructure, increase economic inclusion and attract foreign investment in Tunisia to mitigate the economic challenges occasioned by the Arab Spring.