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France pledges more funding to aid Tunisia's struggling economy

France pledges more funding to aid Tunisia's struggling economy

Tunisia

As Tunisia embarks on a drive to revive its ailing economy, French Prime Minister Manuel Valls visited the north African country to drum up his support.

The PM’s visit comes as Tunisia hosts international investment conference which is expected to attract representatives from about 40 countries.

About $30 billion worth of projects will be in offer as Tunisia seeks to revive its struggling economy.

In a joint press briefing Tunisian Prime Minister Youssef Chahed, lauded France’s support and called for more international backing.

“The visit to Tunisia just a few hours after the launch of the investment Conference is an important step in the return of Tunisia as an investment destination, to which our French friends have contributed in a significant manner.”

On his part, the French PM said that cooperation between the two countries remains priority and further pledged additional funds to aid Tunisia’s economic recovery.

“The French Development Agency, will increase its annual contribution to the financing of development projects in Tunisia. These commitments will increase to 250 million euros each year, on the minimum.”

Despite being lauded as the sole political success of the Arab spring revolution, about 500 foreign companies have left Tunisia due to labour unrest and security challenges leading to high unemployment rates and a significant decrease in foreign direct investment.

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