March 28, 2011 / 4:24 PM / 9 years ago

AfDB to lend Tunisia $1.2bn for recovery, may lend to Egypt

ADDIS ABABA, March 28 (Reuters) - The African Development Bank (AfDB) said on Monday it will lend Tunisia $1.2 billion to aid the North African country’s recovery from January’s political turmoil and is considering a similar loan for Egypt.

Tunisia has been struggling to restore stability since the departure of President Ben Ali following weeks of unrest that triggered uprisings across North Africa and the Middle East. “We are all set to commit to Tunisia close to $1.2 billion to help their country recover,” AfDB President Donald Kaberuka told a meeting of African finance ministers in the Ethiopian capital Addis Ababa.

“We are in discussions with Egyptian authorities and we will be doing so for other countries in the region.”

Kaberuka gave no more details.

Economic analysts are worried about the impact the upheaval in North Africa may have on several of the region’s economies.

“We are revising our (growth) projections for North Africa because the economies are still reeling in the aftermath of the revolutions,” Kaberuka said. (Reporting by Barry Malone, editing by Richard Lough, Ron Askew)

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