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        Tunisia – Proposed Governance, Opportunity and Jobs Development Policy Loan

                                    SUMMARY OF DISCUSSION∗

                                  Meeting of the Executive Directors

                                              November 27, 2012

       Executive Directors approved the Governance, Opportunity and Jobs Development
Policy Loan (DPL) to the Republic of Tunisia in the amount of Euro 387 million on the payment
terms and conditions set out in the President’s Memorandum (R2012-0228).
        Executive Directors expressed support for the DPL, which would help Tunisia lay the
policy foundations for a more competitive business environment, a strengthened financial sector,
more inclusive and accountable social services, and more transparent public governance.
However, Directors stressed the need for faster improvements in public sector transparency and
accountability, regional development, and social sector and encouraged the authorities to
accelerate progress in consolidating the reforms launched in 2011 to secure tangible results.
Directors also emphasized the importance of women’s inclusion in the Tunisian economy.
       Going forward, the need to maintain fiscal sustainability was highlighted, and in this
context, Directors encouraged the authorities to improve the targeting of social programs toward
the most needy. Finally, Directors acknowledged the close collaboration between IBRD and
IFC, and other donors in the preparation of the operation.




∗
    This summary is not an approved record.