Announcement of Two Million Dollars IDA Credit to Tunisia for Fisheries on September 16, 1971

• INTERNATIONAL DEVELOPMENT ASSOCIATION 1818 H STREET. N.W .. WASHINGTON D. C. 20433 TELEPHONE: EXECUTIVE 3-6360 IDA Press Release No. 71/40 Subject: $2.0 million IDA credit to September 16, 1971 Tunisia for fisheries The International Development Association (IDA), an affiliate of the World Bank,today extended a credit of $2.0 rnillion to Tunisia for fisheries development. The credit is the first made by the Bank Group for fisheries in that CO\lll try. The total fish catch in Tunisia is about 28,000 tons per year and the per capita consumption is about 13 pounds. The project would help to increase total productioQ by about 10%. Inshore fishing, which would be assisted by • the project, accounts for 35% of Tunisia's total annual catch. people are supported by inshore fisheries. ment. The project will be extremely important for Tunisia's fisheries develop- It aims at increasing annual inshore fish production by about 2,600 tons, Almost 20,000 valued at $1.2 million. The project will -- over a four year investment period provide credit to fishermen for replacement of obsolete inshore craft by about 335 fully equipped motorized wooden boats. The project will improve the earnings of some 1,300 fishermen, generate about 300 new jobs and provide experience for a possible further expansion of inshore fisheries after the project has been carried out. It will yield a valuable addition to animal protein supplies, substituting for imports. The IDA credit is being made to the Tunisian Government, which will relend $1.83 million to Banque Nationale de Tunisie (BNT), which in turn will finance the procurement of boats on appropriate terms. The remainder of the credit will be used to finance technical assistance and the procurement of fish~ng gear and spare parts. The credit to the Government is for 50 years, including a 10-year grace_ • period, and is ·interest free except for a 3/4 of 1% service charge to meet IDA's administrative expenses. The credit will cover the foreign exchange component in the total cost of the project, which is $3.1 million. The project was prepared under the FAO/IBRD Cooperative Program. - 0 -  September 16, 1971 • TECHNICAL DATA PROJECT: Fisheries COUNTRY: Tunisia TOTAL COST: $3.1 million IDA FINANCING: $2.0 million, 50 years, 10 years of grace, 3/4 of 1% IDA service charge. OTHER FINANCING: Tunisian Government, Banque Nationale de Tunisie, parti- cipating fishermen and suppliers. IMPLEMENTING ORG&~IZATION: Direction des Services des Peches, Ministry of Agriculture, Tunis, Tunisia. PROJECT DESCRIPTION: Provide credit for replacement of obsolete inshore fishing boats, increasing the fleet's catch. EQUIPl-IBNT AND SERVICES: 335 31-foot wooden inshore fishing boats with diesel engines, spare parts, fishing gear; technical assistance of a fisheries specialist·, naval cL'Chitect and master carpenter. • PROCUREMENT PROCEDURE: International competitive bidding for complete boats and, concurrently, international competitive bidding for engines and local bidding for hulls~ including installation of engines. CONSULTANTS, TECHNICAL ASSISTANCE: Advisors to be recruited abroad. ESTIMATED COMPLETION DATE: 1975. - 0 - •