Tunis/Tunisia — Tunisia and the European Investment Bank (EIB) inked an agreement to finance the Old Centres Regeneration Programme (French: PRCA) worth €20 million.
The agreement was inked by Minister of Development, Investment and International Cooperation Zied Ladhari and EIB Vice President Emma Navarro, on the fringes of the annual meetings of the World Bank Group and the International Monetary Fund (IMF), October 16-20 in Washington.
The programme was integrated into the Economic and Social Development Plan 2016/2020 for an estimated budget of 40 million dinars, with funding from the Tunisian State, the French Development Agency (AFD) and the EIB, with technical assistance financed by the Urban Projects Finance Initiative (UPFI).
The programme consists in intervening in old centres of historic and traditional nature involving the Medinas as well as the 19th and 20th century European neighbourhoods, the architectural and urban complexes, the Ksours, and any inhabited area having a historical, patrimonial or traditional specificity, with a view to rehabilitating them and ensuring their economic and social integration.
The programme also aims to improve the living conditions of the inhabitants, boost economic activity in the old centres and enhance their cultural and tourist attractiveness.
On the sidelines of the meeting, Ladhari discussed with the Vice President of the WB the progress of technical and financial cooperation programmes between Tunisia and the WB and the programmes to be presented in the coming period in addition to the progress of scheduled reforms.
Ladhari also met with several heads of international and Arab financial institutions, including the US COMPACT Programme Vice President (Millennium Challenge Corporation), the European Commissioner for Economic and Monetary Affairs and the President of the African Bank (AfDB).