|Approval Date||03 Jun 2020|
|Planned Completion Date||31 Dec 2021|
|Last Disbursement Planned Date||31 Dec 2021|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11231|
The AfDB loan of EUR 180 million to the Republic of Tunisia is to finance the Support Programme for the COVID-19 Response through Social Inclusion and Employment (PARISE).This operation is consistent with the COVID-19 Rapid Response Facility(CRF) approved by the Bank on 8 April 2020 and is aimed at mitigating the impacts of the COVID-19 crisis through job protection and the social inclusion of vulnerable groups, the youth and the poor in the short term; and through economic recovery in the medium term.
The proposed programme will, therefore, provide the authorities with the resources needed to mitigate the health,economic and financial shocks of the COVID-19 pandemic, as well as contribute to economic recovery through a series of counter-cyclical measures aimed at strengthening the resilience of businesses,protecting the private sector fabric, safeguarding jobs and ensuring the recovery of growth through employment.The programme objectives are threefold, namely: (i) build the resilience of the health and social protection system and support preventive mechanisms against vulnerability; (ii) preserve employment and businesses in urban and rural areas; and (iii) speed up economic recovery. PARISE will contribute to the strengthening of macroeconomic stability and createf iscal headroom to accelerate economic recovery under the Economic and Social Development Plan(2016-2020).
The beneficiaries of PARISE’s direct impacts are: (i) the 450,000Tunisians tested for COVID-19; (ii) the 623,000 families receiving exceptional monetary aid, representing over 2 million individuals;(iii) the annual 60,000 higher education graduates, 67% of whom are girls, and vocational training graduates with projects;(iv)350,000 VSEs and SMEs,as well as national and foreign investors who will benefit from the improvement of the investment climate and the financing system; (v) workers and individual businesses operating in the informal sector that will benefitf rom monetary assistance and could be encouraged to formalise thanks to the incentive package that will be offered by the new self-entrepreneur status; (vi) women, who will benefit from inclusive finance activities. The indirect beneficiaries are the Tunisian population.
African Development Bank
MINISTERE DU DEVELOPPEMENT ET DE LA COOPERTATION INTERNATIONALE
|Last Update||06 Jul 2020|