TUNIS, Tunisia (AP) — The World Bank has announced an aid package of more than $1 billion to support Tunisia's economic reforms and stumbling economy, officials said Friday.
After Tunisians overthrew their dictator in 2011, the economy contracted by two percent. Growth since has been slowed by social unrest and the economic crisis in Europe, its main trading partner. Unemployment is around 17 percent.
The World Bank aid announced Friday involves $750 million to support government reforms to promote growth and create employment. Another $300 million is earmarked for decentralization projects to aid the impoverished interior.
A line of credit for $100 million has been created for small and medium enterprises.
Bank Vice President Inger Andersen told state television said the money should be for those who need it, not just the state. Another $50 million will be to promote exports.
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