Two cooperation agreements were signed between Tunisia and the World Bank on Wednesday in the capital Tunis in support of the Tunisian state budget.

Tunisian Minister of Investment and International Cooperation, Zied Laadhari, said the agreements target the development of municipal infrastructure and improvement access to municipal services, especially in lower-income neighborhoods.

The two conventions, worth 107.5 million euros (125.5 million U.S. dollars) and 413.4 million euros, are repayable over 28 years and the interest rate will not exceed 1 percent.

"The objectives," Laadhari insisted, "are to boost growth, stimulate private investment and job creation, mitigate commercial and financial barriers which trample economic activities."

The director of the Arab Maghreb region within the World Bank, Francoise Marie-Nelly, assured that the World Bank would like to accompany Tunisia during the transitional period.

"These operations come at a crucial moment in our commitment to Tunisia," said Marie-Nelly.

Xinhua