Tunisian Business Leaders Call for Increased Support from the World Bank
During a meeting with a World Bank delegation, Samir Majoul, President of the Tunisian Union of Industry, Trade, and Handicrafts (UTICA), urged the creation of a foreign currency financing line dedicated to the internationalization of Tunisian businesses and strengthening their presence abroad.
The two parties examined the extent to which Tunisian businesses have utilized the $120 million financing line provided by the World Bank in 2023, aimed at supporting small and medium-sized enterprises (SMEs) for economic recovery. They also discussed ways to ensure the project's effectiveness and maximize its benefits for the national economy.
Key Discussion Points
- The challenges faced by SMEs and ways to support and enhance their innovation and adaptation capabilities in response to technological developments
- The importance of providing financing and encouraging investment to ensure the continuity and growth of these vital businesses in the national economic fabric
- The ability of Tunisian businesses to adapt to the implementation of the carbon tax and the preparation of the industrial sector for the requirements of the African Continental Free Trade Area (AfCFTA) agreement
According to a statement released by the Union on Friday, the discussion also touched on the need to support SMEs and contribute to the development of effective strategies for achieving a sustainable economic recovery in Tunisia.
Commitment to a Low-Carbon Economy
The Union's representatives emphasized Tunisia's commitment to transitioning to a low-carbon economy and its efforts to invest in the green economy and achieve energy sovereignty. They stressed that imposing new restrictions on Tunisian exports could harm the economic fabric and limit the competitiveness of national businesses.
Strengthening Partnership
In this regard, they highlighted the importance of strengthening the partnership between the Union and the World Bank to support SMEs and contribute to the development of effective strategies for achieving a sustainable economic recovery in Tunisia.
