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HomeNewsTunisia: EIB provides two loans for Office of Grain and STEG

Tunisia: EIB provides two loans for Office of Grain and STEG

The European Investment Bank (EIB) has provided Tunisia two loans totaling €220 million to the Office of Grain and the Tunisian Company of Electricity and Gas (STEG).

The agreements were initialed by Minister of Economy and Planning, Samir SAIED, and Director of Lending Operations in Neighborhood Countries at the EIB, Lionel RAPAILLE.

The loans are part of the new financing approved by the EIB’s Board of Directors to support business, transport, social and climate investments in several countries through a total amount of 24 billion euros.

The first amounts to 150 million euros and would support the Office of Grain in its supply of soft wheat while being directed towards the development of infrastructure and logistics for grain storage. It also meets the provisions of the program of Emergency Support for Food Security in Tunisia (PAUSAT).

Director of lending operations in the neighboring countries of the European Union at the EIB, Lionel Rapaille, reiterated the importance of the financing provided as support for strengthening the food security capacity of Tunisia in light of climate change and the global crisis in the supply of raw materials, especially grain, while recalling that the current situation is caused by the war that Russia is conducting in Ukraine.

Regarding the second loan obtained by Tunisia, it amounts to 70 million dollars and would be used to improve the basic infrastructure of the Tunisian Company of Electricity and Gas (STEG) by expanding the network of transfer and distribution of electricity.

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