Seville: Tunisia has issued a call for a comprehensive revision of global financing conditions to better align with national priorities and facilitate access to stable, long-term funding. Prime Minister Sarra Zaafrani Zenzri delivered this message on Tuesday at the 4th United Nations International Conference on Financing for Development (FfD4) held in Seville, Spain.
According to Agence Tunis Afrique Presse, Zenzri highlighted the necessity of redefining the role of international financial institutions. She advocated for a shift from a system that imposes certain policies on countries to one based on genuine partnerships that support national development programs. She stressed Tunisia's stance that equitable access to financing is a legitimate right for countries in the Global South. Tunisia has adopted an ambitious national strategy aimed at expanding financing sources, proposing a new global financing approach with greater flexibility in fund allocation, clear eligibility criteria tailored to developing countries, and relaxed lending conditions.
Zenzri also called for a new financial pact for Africa, enabling countries across the continent to secure direct and adequate financing for development programs. She pointed out that African nations are particularly vulnerable to climate-related challenges, mainly caused by industrialized nations, which threaten the continent's stability.
Further addressing the challenges developing countries face in mobilizing financing for reform, Zenzri noted that the rising cost of capital limits access to funding. For Tunisia, the burden of debt servicing significantly restricts the national budget, affecting investment in critical sectors such as education, health, environmental protection, and infrastructure.
On the matter of recovering stolen assets, the Prime Minister urged the adoption of a robust international framework to expedite the return of misappropriated funds. Zenzri emphasized the importance of these assets to future generations and highlighted the challenges posed by complex international legal procedures that have hindered progress in recovering these vital resources.