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$100 Million US Cash Transfer To Tunisia To Repay Debt

3/29/2012 11:53 AM ET

The United States will provide a $100 million cash transfer to Tunisia for short-term fiscal relief. This will go directly to pay-off a debt that Tunisia owes the World Bank and African Development Bank, allowing the Tunisian Government to use the money for its priority programs, accelerating economic growth and job creation.

This support would be in addition to the sovereign loan guarantee agreement currently being negotiated between the United States and Tunisia. Tunisia will use $30 million from the United States to open up access to several hundred million dollars in new financing from international capital markets for the Tunisian government.

As Tunisia progresses into the next phase of its historic democratic transition, the United States is working to help accelerate economic growth that benefits all, ensure that democracy delivers for the Tunisian people, and to help Tunisian businesses -- large and small -- become engines of job creation, US Secretary of State Hillary Rodham Clinton said while announcing the aid on Thursday

She called on other partners in the international community to join the US in supporting Tunisia and ensuring economic opportunities for more Tunisian people.

The disbursal of the amount is subject to Congressional notification and review.

by RTT Staff Writer

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