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Tunisia: STEG gets $ 154 million from ITFC

The Tunisian Electricity and Gas Company (STEG) and the International Islamic Trade Finance Corporation (ITFC) signed a credit agreement of $ 154 million (about 462 million dinars) on Tuesday, 5 February.

CEO of STEG Moncef Harrabi said this amount will balance the accounts of the STEG which faces a critical situation due to the increase in the oil barrel price on the international market, besides the depreciation of the value of the dinar against other currencies.

This funding will also pay for natural gas imported from Algeria.

Zied Ladhari, Minister of Development, Investment and International Cooperation recalled that this funding is part of a $ 1.5 billion deal (approximately 4.5 billion dinars), signed at the 43rd session of the IsDB Group Annual Meetings that took place from April 1 to 5, 2018 in Tunis.

The cooperation between Tunisia and the ITFC will focus on increasing Tunisia’s exports and their access to African and Arab markets, said Mr. Ladhari.

ITFC’s Chief Executive Officer Hani Salem Sonbol expressed the willingness of his institution to support Tunisia in guaranteeing its imports of strategic products.


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