The World Bank has approved a $130 million loan to Tunisia to help the North African country pay for wheat imports and to buy barley for livestock.
The loan will help soften the impact of the Russia-Ukraine conflict on the Tunisian economy that is wobbling amid continued political instability and the country’s worsening economic crisis.
The funding will also allow Tunisia to buy seeds for farmers with small landholdings for the coming planting season, the World Bank said in a statement on Tuesday.
The deal is part of a co-ordinated emergency response with donors including the European Bank for Reconstruction and Development, the European Investment Bank and the EU.
“Tunisia faces a major grain supply shock due to difficulties in accessing financial markets and rising global prices which affected the ability to procure imported grain,” said Alexandre Arrobbio, the World Bank's country manager for Tunisia.
“We're working very closely with other partners to support the Tunisian government in its efforts to ensure food security while addressing some of the overdue structural reforms in the agricultural and food system.”
Along with parallel funding from other donors, the World Bank is looking to mitigate bread supply disruptions in the third quarter of this year by financing the soft wheat, equivalent to a month and a half of consumption.
The loan will allow for the purchase of an estimated 75,000 metric tonnes of barley to cover the needs of smallholder dairy producers for approximately one month and 40,000 tonnes of wheat seeds for the October planting season, the World Bank said.
We're working very closely with other partners to support the Tunisian government in its efforts to ensure food security while addressing some of the overdue structural reforms in the agricultural and food system
Alexandre Arrobbio,
World Bank's country manager for Tunisia
The loan package comes at a time when the rise in energy and commodity prices globally amid the Ukraine war has pushed Tunisia into its worst financial crisis. Mounting debt, a widening current account deficit and spiralling inflation in the country require political and economic reforms that are key to unlocking International Monetary Fund's assistance for its struggling economy.
Tunisia is seeking $4 billion in assistance from the IMF. The lender earlier this month said it was ready to engage in discussions with Tunisia, but that it needed to institute reforms that have been derailed by political instability.
Tunisia is particularly vulnerable to disruption in grains supply as it imported about 66 per cent of its soft wheat and 60 per cent of barley from Russia and Ukraine last year. With the sudden halt in supply, Tunisia is facing a massive supply crunch, along with other food importing nations globally.
The country is facing rising public discontent in response to rising food and energy prices. The public dissent has made it difficult for authorities to make unpopular decisions such as withdrawing subsidies.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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FIGHT CARD
Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)
Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)
Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)
Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)
Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)
Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)
Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)
Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)
Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
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Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Brief scores:
Day 2
England: 277 & 19-0
West Indies: 154
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
MATCH INFO
Europa League final
Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports
More from Rashmee Roshan Lall
RESULTS
2.15pm Maiden (PA) Dh40,000 (Dirt) 1,200m
Winner Shawall, Abdul Aziz Al Balushi (jockey), Majed Al Jahouri (trainer)
2.45pm Handicap (PA) Dh40,000 (D) 1,200m
Winner Anna Bella Aa, Fabrice Veron, Abdelkhir Adam
3.15pm Handicap (PA) Dh40,000 (D) 1,200m
Winner AF Thayer, Tadhg O’Shea, Ernst Oertel
3.45pm Handicap (PA) Dh40,000 (D) 1,700m
Winner Taajer, Fabrice Veron, Eric Lemartinel
4.15pm The Ruler of Sharjah Cup – Prestige (PA) Dh250,000 (D) 1,700m
Winner Jawaal, Jim Crowley, Majed Al Jahouri
4.45pm Handicap (TB) Dh40,000 (D) 2,000m
Winner Maqaadeer, Jim Crowley, Doug Watson
The five pillars of Islam
The specs: 2018 Ducati SuperSport S
Price, base / as tested: Dh74,900 / Dh85,900
Engine: 937cc
Transmission: Six-speed gearbox
Power: 110hp @ 9,000rpm
Torque: 93Nm @ 6,500rpm
Fuel economy, combined: 5.9L / 100km
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
UAE currency: the story behind the money in your pockets
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
Results
Stage seven
1. Tadej Pogacar (SLO) UAE Team Emirates, in 3:20:24
2. Adam Yates (GBR) Ineos Grenadiers, at 1s
3. Pello Bilbao (ESP) Bahrain-Victorious, at 5s
General Classification
1. Tadej Pogacar (SLO) UAE Team Emirates, in 25:38:16
2. Adam Yates (GBR) Ineos Grenadiers, at 22s
3. Pello Bilbao (ESP) Bahrain-Victorious, at 48s
