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| World Bank President Jim Yong Kim [FILE PHOTO: Simone D. McCourtie /World Bank] |
Tunis/Washington: World Bank Group President Jim Yong Kim has concluded a
two-day visit to Tunisia during which the Group’s private sector arm, the
International Finance Corporation, announced a $48 million investment to
support the growth of private entrepreneurs. Kim met the country’s leadership
and civil society to discuss the reform agenda and Tunisia’s progress two years
after its popular uprising.
"We are here as strong supporters of the Tunisian
revolution," said Kim. "[The people of Tunisia] went through some
very difficult times, but in doing what you've done, you've inspired the entire
world. [Now] we've got to make sure that Tunisia is successful in showing that
Islam and democracy go together, that you can have economic development that
includes everyone."
Kim emphasized ongoing World Bank Group support for
Tunisia’s aspirations through programs that address improved governance and
accountability, opportunities for women and youth, private sector job-creation
and investments in interior regions.
During his visit, Kim met with the Tunisian authorities,
including: Moncef Marzouki, President of the Republic; Hamadi Jebali, Prime
Minister; and several Cabinet members including Riadh Bettaieb, Minister of
Investments and International Cooperation; Elyes Fakhfakh, Minister of Finance;
Ridha Saidi, Minister of Economic Affairs in the Prime Minister’s Office; Sihem
Badi, Minister of Family and Women’s Affairs; and Khalil Zaouia, Minister of
Social Affairs. Kim also met Chedly Ayari,the Central Bank Governor and
Mustapha Ben Jaafar, President of the Constituent Assembly.
The World Bank recently approved a $500 million budget
support program for Tunisia, designed to underpin the government’s efforts to
improve the business environment, strengthen financial sector stability, reform
key social services and advance transparency through improved access to public
information and more transparent budgeting. This support was part of a
multi-donor effort to which the African Development Bank and the European Union
provided an additional $700 million to bolster the reforms.
During Kim’s visit, the International Finance Corporation
(IFC) signed an agreement with Amen Bank to support smaller businesses and
drive job creation in Tunisia. IFC and two funds managed by the IFC Asset
Management Company will invest up to $48 million in Amen Bank capital. IFC will
also provide Amen with advice in risk management and corporate governance. The
partnership is expected to help Amen Bank expand its lending to smaller
businesses, which often have trouble accessing the financing they need to grow.
With this investment, IFC's commitments in Tunisia will amount to $105 million
since January 2011.
Kim also held meetings with Tunisian civil society and
business representatives. He discussed the need for consensus around key
reforms and stressed the importance of the continued involvement of all sectors
of Tunisian society in the country’s transition.
"It was a very inspiring experience for me to meet with
representatives of civil society who were at the center of starting the
revolution that has had a truly global reach,” said Kim after the
meeting.
“The opportunity to sit with them and hear their
perspectives on what needs to happen next was very enlightening. And what was
really clear to me is that ... no matter what happens, civil society voices
have changed forever and they are never going away."
Kim reiterated the importance of quickly reaching consensus
on a new constitution. Among other important issues this would address, it
would help build the stable, predictable environment necessary to boost private
sector investment and create jobs. He also underlined the World Bank’s support
for transparency and accountability through the institution’s open government
and open data initiatives.