US Provides $100M Cash Transfer to Tunisia for Short-Term Fiscal Relief

As an ardent supporter of Tunisia’s democratic progress and economic success, the United States today announced that pending Congressional notification and review, the US governmen will provide a $100 million cash transfer to the Government of Tunisia for short-term fiscal relief.

US Secretary of State Hillary Rodham Clinton says the money will go directly to debt that Tunisia owes the World Bank and African Development Bank.

The initiative will allow the Government of Tunisia to instead use the money for its priority programs, accelerating economic growth and job creation, Ms. Clinton added.

Demonstration in support of the Tunisian protests in Nantes, France, 15 January 2011.

The US support to Tunisia would be in addition to the sovereign loan guarantee agreement currently being negotiated between the United States and the Government of Tunisia.

The agreement will allow Tunisia to 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.” -Ms. Clinton

She stresses that the United States ensures that democracy delivers for the Tunisian people, and to help Tunisian businesses either large and small become engines of job creation.

Ms. Clinton also calls on other partners in the international community to join us in supporting Tunisia and ensuring economic opportunities for more Tunisian people.

As Tunisia continue to chart a democratic future after the successful revolution, the United States remains a committed partner in working with the Tunisian government, private sector, and civil society to develop institutions of governance, and in laying the economic foundations for Tunisia to thrive as a 21st century democracy.

The U.S. government is an ardent supporter of Tunisia’s democratic progress and economic success, hoping it will set an example for other countries in the region that have overthrew autocratic rulers.

On October 2011, U.S. Secretary of State Hillary Rodham Clinton vowed to help the Tunisians as they pursue a more peaceful, prosperous and democratic future.

Since the Revolution, the United States has committed approximately $190 million in total assistance to support Tunisia’s transition which focused on technical and financial assistance to Tunisia’s economy and private sector.

In addition, the U.S. Overseas Private Investment Corporation is working to invest roughly $150 million in Tunisia. The United States Overseas Private Investment Corporation has exteded financial support in the form of direct loans, guarantees, and political risk insurance for the Tunisians.

It was the people of Tunisia that inspired the region earlier on 2011 when they stood up to demand democracy and freedom, sparking a wave of popular uprisings across North Africa and the Middle East.

Reports say the Tunisian transition has made great progress in the past year, culminating in the holding of peaceful and orderly elections in October 2011 that led to the establishment of a Constituent Assembly.

Mina Fabulous
Mina Fabulous follows the news, especially what is going on in the US State Department. Mina turns State Department waffle into plain English. Mina Fabulous is the pen name of Carmen Avalino, the NewsBlaze production editor. When she isn't preparing stories for NewsBlaze writers, she writes stories, but to separate her editing and writing identities, she uses the name given by her family and friends.