EC approves disbursement of 100 million Euros for Tunisia | Tunisia News Gazette

EC approves disbursement of 100 million Euros for Tunisia

The European Commission (EC) approved on Monday the disbursement of a loan of 100 million Euros (equivalent to 278 million dinars) to Tunisia, the EC said in a statement, adding that this is the third and last tranche of the European Union (EU) macro-financial assistance programme (MFA-I) for Tunisia, worth Euros 300 million (836 million dinars), adopted in May 2014.

This programme is part of the EU’s efforts to help Tunisia to respond to the serious economic difficulties it faces and the persistent political instability in the region.

It will also help Tunisia’s economic recovery by providing concessional funds and by encouraging the implementation of a number of important political measures agreed in a Memorandum of Understanding between the EU and Tunisia, the same source said.

The European Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici, said: “This disbursement, following an agreement on a new programme, reaffirms the EU’s continued commitment to supporting Tunisia in its efforts to continue its economic and political transition.

Despite an unstable regional context, Tunisia has demonstrated its determination to consolidate a full democratic system and ensure the prosperity of all its citizens. The EU will firmly support Tunisia and its people, “he said.

This first macro-financial assistance operation in Tunisia will be followed by a second AMF programme (MFA-II) in the amount of 500 million Euros (1395 million dinars), also in the form of loans.

The new operation was proposed following the terrorist attacks of 2015, which resulted in the blocking of the economic recovery in Tunisia. This has had a significant impact on the balance of payments situation and the country’s financing needs. The programme was approved by the Council and the European Parliament on 6 July 2016, the press statement said.

The disbursement of MFA-II funds will again be linked to the implementation of a number of mutually agreed political conditions. The Memorandum of Understanding, which sets out these conditions, was signed in Brussels in April 2017. The current ratification of the Memorandum by the Tunisian Parliament will pave the way for disbursement under the second operation.

The EU assistance strategy for Tunisia also includes budget support programmes under the European Neighbourhood Instrument (ENI), whose Tunisia is a major recipient among the neighbouring countries of the South, as well as loans from the European Investment Bank (EIB).

Source: TAP News Agency

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