(MENAFN - Kuwait News Agency (KUNA)) The US announced on Tuesday the signing of a loan guarantee agreement that provides the Tunisian government with up to USD 500 million in financing opportunities from global capital markets.
"The loan guarantee underscores the United States' commitment to the people of Tunisia and their democratic transition," said the Department of State in a press release. "The loan guarantee agreement is designed to support Tunisia as it pursues important reforms that will provide the foundation for economic growth and prosperity.
"The signing of today's agreement is evidence of the US commitment to help Tunisia build an economic foundation that supports sustainable and inclusive economic and job growth, bolster international confidence in the Tunisian market, and support and expand US-Tunisian economic relations," it added.
In 2012, the US provided USD 485 million that "was successful in facilitating Tunisian access of global capital markets for the first time since 2007.
"These loan guarantees are one component of broader ongoing US support for Tunisia," noted the Department of State. "Since 2011, the United States has committed an additional USD 400 million in assistance to support Tunisia's transition." In April, President Barack Obama told Prime Minister Mahdi Jomaa at the White House that the US wants "nothing more than for Tunisians to determine their own destiny, for the economic reforms to take place to allow Tunisia to be not just self-sufficient but thriving in the world economy.
"We are confident that with the Prime Minister's guidance that, in fact, Tunisia can meet some of its reform goals and lay the foundation for great success in the future," he said.