Decent Employment for a Just Transition: IFE Signs Three Financing Contracts for New Investment Projects in Tunisia
As part of the German Federal Ministry for Economic Cooperation and Development's special initiative "Decent Employment for a Just Transition", the Investment Facility for Employment (IFE), a investment mechanism created by KfW, organized a contract signing ceremony for three new investment projects in Tunisia today in Tunis, in the presence of the Ministers of Industry, Mines, and Energy, and Economy and Planning.
The IFE, represented by its General Director, Anke Afflerbach, and the representatives of the three projects, signed a subsidy agreement for the implementation of their investment projects in Tunisia.
The three projects are:
- Autoliv: This project aims to increase the production capacity of steering wheels at the El Fahs Sud factory from 1.6 to 3 million units. The project budget is €24.5 million, financed by a €4.2 million subsidy and a €20.3 million own contribution. This project is expected to create 696 new quality jobs.
- Ulysse Logistics Company plc: This project involves the construction of four new warehouses totaling 33,000 square meters in Mornag. The project budget is €20.85 million, financed by a €2.388 million subsidy and a €18.462 million own contribution. It is expected to create 387 new jobs, including 80 for women and 280 for young people.
- GMG Oued Chaabouni Industrial Zone: This project aims to rehabilitate the existing infrastructure of the industrial zone, including roads, water supply networks, electrification, sanitation, parking, etc. The project budget is €3.323 million, financed by a €2.811 million subsidy and a €0.512 million own contribution. This project is expected to create 397 jobs in the industrial zone and improve the working conditions of 3,328 existing employees.
At the end of the 24-month investment phase, these projects will create a total of 1,480 jobs in Tunisia.
