7 days ago
Tunisia: Small Cabinet meeting on ESCWA's Climate/SDGs Debt Swap Initiative
Tunis - A small Cabinet meeting, chaired by Prime Minister Sarra Zaafrani Zenzri, was held on Tuesday to discuss the initiative of the United Nations Economic and Social Commission for Western Asia (ESCWA) on swapping external debt for investments to implement projects that adapt to climate challenges and contribute to improving economic, social, and environmental indicators.
This initiative aims to enable member states to finance projects that address climate challenges through an innovative financing approach, whereby bilateral external debt payments are redirected toward projects aligned with national priorities, choices, and development plans.
It also seeks to improve economic, social, and environmental indicators by raising citizens' living standards, preserving existing jobs, creating new employment opportunities, boosting development in the poorest and most vulnerable regions, and supporting small-scale farmers.
The meeting reviewed an initial list of projects to be proposed under the swap framework, which will be enriched with other projects through bilateral discussions with international partners, as part of implementing the aforementioned initiative.
These projects stem from proposals made by local, regional, and district councils during the preparation of the 2026–2030 development plan.
These projects mainly concern water resources, alternative and renewable energy, wastewater treatment plant management, forest system rehabilitation, and coastal protection.
The proposed projects under the swap programme aim to achieve the following key performance indicators: improving access to clean water; enhancing wastewater treatment through new technologies; increasing the share of renewable energy in the total energy mix by 35% by 2030; restoring Tunisia's forest ecosystems; improving the resilience of coastal areas to climate challenges; improving the well-being of poor populations and providing job opportunities for them; and investing in development goals.
The Prime Minister affirmed that the ESCWA initiative represents an important opportunity to enhance financial sustainability and investment through the implementation of various projects in areas such as water security, wastewater management, energy transition via renewable energy supply, ecological transition, and regional development—thereby strengthening national capacity to face climate challenges.
This would be achieved within comprehensive agreements between debtor and creditor parties and donors, based on measurable performance indicators and outcomes.
She added that this initiative could lead to the building of a fair and productive national economy, breaking away from traditional models based on inequality and dependency.
She noted that the ESCWA initiative aligns with the Tunisian state's vision for financing development and addressing climate challenges, as presented during the 4th International Conference on Financing for Development, held in Seville, Spain, from June 30 to July 3, 2025.
At the conclusion of its work, the Cabinet meeting recommended the implementation of the ESCWA initiative and the proper negotiation of the model project programme with international partners. The aim is to finalise swap agreements by the end of 2025 and launch investments in development projects that improve livelihoods in the poorest and most vulnerable areas, promote the economic inclusion of disadvantaged groups, reduce poverty levels and narrow the regional disparity gap.
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