Summary:

On 29 October 2026, the US Embassy in Tunisia announced a Washington-funded program implemented in partnership with CrossBoundary, an investment advisory firm specializing in mobilizing private capital in emerging markets. 

The initiative aims to connect American investors and companies with phosphate projects developed by Australia’s PhosCo in northwestern Tunisia, with a focus on attracting investment, increasing production and facilitating supply agreements. 

The announcement follows an initiative unveiled in August, which set a target of mobilizing more than $100 million in private US investment and envisaged a 30-40% stake in PhosCo. These remain initial program targets, with no investment or equity agreement confirmed in the latest announcement. 

Outlook: 

The program is expected to focus on identifying potential investors and facilitating commercial agreements for PhosCo’s phosphate projects over the next two years. It also adds an economic dimension to US-Tunisia relations, reflecting continued engagement between the two countries in the development of Tunisia’s natural resources. 

However, the announcement does not confirm that financing has been secured or that US investors have committed to acquiring a stake in the company. Further details on investor participation, financing arrangements and potential supply agreements are yet to be disclosed. Progress on the initiative will therefore be assessed through the conclusion of concrete investment deals and the advancement of PhosCo’s projects. 

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