The African Development Bank (AfDB) says it has approved a $500m loan to support Tunisia’s interim government

The emergency funding will be released in a single tranche and is part of a wider $1.4bn support package from the Washington-based World Bank, the European Union and the French Development Agency.

In April, the AfDB said it was looking to give between $400m-$500m in aid to Tunisia with a view to increase this to $1bn by the end of the year (MEED 18:4:11).

The funding is aimed at addressing issues such as youth unemployment, job creation, increased access to public services and bridging the gap between the wealthier coastal areas with poorer inland areas.

On 29 May, the G8 pledged to give $20bn in aid to Tunisia and Egypt as they recover from political uprisings earlier this year. This amount could be increased to $40bn.