HomeNewsTunisia, EIB sign two loan agreements worth € 170M

Tunisia, EIB sign two loan agreements worth € 170M

The European Investment Bank (EIB) has granted Tunisia two loans with a total value of € 170 million (340 million Tunisian dinars).

These loan agreements were signed on Thursday in Tunis by Messrs. Riadh Bettaeib, Minister of Investment and International Cooperation and Philippe de Fontaine Vive, Vice-President of the EIB.

The first loan is in the form of a credit line of 100 million Euros (200 million Tunisian dinars) in favor of four banks and two leasing companies, namely “Banque de Tunisie” (BT), Tunisian-Kuwaiti Bank (BTK), Amen Bank, Attijari Leasing and “Tunisie Leasing.”

Repayable over 15 years with 4 years of grace, this line of credit is used to finance projects of Small and Medium Enterprises (SMEs) whose cost does not exceed EUR 25 thousand (EUR1 = 2.05 TD). It will primarily benefit new investments, expansion and modernization or rehabilitation of enterprises in productive sectors (manufacturing, agriculture, trade and production and distribution of energy).

The second loan, with a value of 70 million Euros (140 million dinars), repayable over 20 years (per semester), including 4 years of grace, will finance the project of the Program for Rehabilitation and Integration of Residential Districts (PRIQH) whose total cost is estimated at 435 million dinars.

The objective of this program, which covers the period 2013 – 2016 and will include 83 projects, is to improve the urban environment and living conditions of people in the sense of rebalancing investments of urban rehabilitation in disadvantaged regions. It is financed by a grant of 33 million Euros from the European Commission and a loan of 30 million Euros from the French Development Agency (AFD).

Projects planned under this program, which will be implemented by the Agency for Urban Rehabilitation and Renovation (ARRU), targets the modernization and extension of urban infrastructure (water supply, street lighting, road surfacing…) in 119 districts spread over 24 governorates.

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