Tunisia's authorities are struggling to reassure investors' confidence to recover its economy as the country is still grappling with problems aroused by political instability and insecurity, local media said Friday.

"The government is currently working to achieve a gamut of reforms aiming at improving investment climate and simplifying administrative procedures," the country's Prime Minister, Ali Laarayedh said Thursday.

Also on Thursday, the Tunisian government concluded a strategic partnership agreement with the Islamic Development Bank covering the 2013-2015 period with an investment estimated at 1.2 billion U. S. dollars.

Meanwhile, a Tunisian-U.S. investment fund will come out soon. Endowed with a budget of 52-million-dollar loans and 50 million dollars placed in Tunisian banks, the fund is expected to help young promoters to set up their own businesses.

Once considered as one of the region's most thriving economies, Tunisia has been beset with major economic woes fueled by political instability and insecurity since the upheaval that toppled the country's former president Zine El Abidine Ben Ali on Jan. 14, 2011.