Tunis/Tunisia — The Economic Commission for Africa (ECA) is supporting Tunisia in leveraging expat remittances for productive investment and the development of new green financing mechanisms, Economic Affairs Officer at the Commission Samia Mansour Hamouda said.
The latter are two priority cooperation areas under the 2026-2030 Development Plan, she further told TAP as the 41st session of the Intergovernmental Committee of Senior Officials and Experts (ICSOE) for North Africa got underway in Rabat, Morocco (November 3-5).
The first focus area is channeling remittances from Tunisian expatriates, accounting for nearly 6.5% of the country’s GDP ($3 billion), toward funding inestment projects.
Remittances amounted to TND 7 million ($2.4 billion) as of September 30.
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Diaspora transfers post an annual rise of at least 5% (that is an additional TND 300 million per annum), she further said.
The commission is working in collaboration with the Ministry of Economy and Planning to identify and set up mechanisms needed to encourage the investment of diaspora savings in Tunisia.
This approach provides for putting in place an appropriate institutional, legal, and financial framework and developing tailored financing tools, including the creation of a fund dedicated to Tunisian expatriates. The mobilisation of a part of the savings of Tunisians living abroad, mainly in Europe, toward high value-added investments in their country is the ultimate purpose.
The Economic Affairs Officer put the spotlight on a “proactive” Tunisian approach grounded in a legislative overhaul in connection to investment in a bid to drive for an increased diaspora participation in financing the national economy.
It is of paramount importance to develop a portfolio of clearly identified investment projects likely to attract Tunisians living abroad, particularly those contributing to regional development. Tunisian expatriates would hence contribute to financing structural projects in their regions.
The commission seeks to promote the sharing of the Tunisian experience in mobilising diaspora remittances and dirtecting them to investment.
//Green funding second pillar of cooperation between ECA and Tunisia//
Hamouda said the commission and Tunisia are endeavouring to put in place institutional and strategic prerequisites as well as financial instruments for a potential green bond issuance by 2028 as part of the Development Plan 2026-2030.
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The support provided by the African commission in this vein has also technical cooperation and scaled-up national capacities at its core, she further said.
The initiative is geared toward diversifying funding sources for development and leveraging additional resources for public financing to underpin investment in priority sectors and sustainable development projects.
Through these two main areas, the commission eyes enhanced support for Tunisia’s efforts to diversify funding mechanisms, harnessing diaspora resources and build its capacity to mobilise innovative funding in the service of economic development, Hamouda highlighted.
