(MENAFN) Tunisia has been awarded USD214 million loan from the European Union, the African Manager reported.
The North African country also won two USD500 million loans from the World Bank and the African Development Bank, paid into the recovery support program.
The total amount of loans will help the government to balance the public accounts in the year 2012 and helps to mitigate the impact of the global economic slump on the Tunisian economy and the instability that still exists in the country.
The government will use the cash to support reforms undertaken to revive the economy and establish democratic institutions and rule of law.
The reforms target particular regions and social groups, particularly those disadvantaged.
The government is also working on improving the business environment and the competitiveness of the Tunisian economy, by promoting public-private partnerships as an example.
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