Tunisia-IsDB: Three financing agreements signed for STEG, STIR and GCT

Three guarantee agreements between the Republic of Tunisia and the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), were signed on Friday in Tunis by Minister of Economy and Planning, Samir Saied, and executive chairman of the ITFC, Hani Salem Sonbol, in the presence of Minister of Industry, Mines and Energy Neila Nouira Gonji, and CEOs of the Tunisian Electricity and Gas Company (STEG), the Tunisian Company of Refining Industries (STIR) and the Tunisian Chemical Group (GCT).

The first agreement provides for funding in the amount of 120 million euros, or about 400 million dinars (MD), to co-finance the import of natural gas for STEG.

As for the second agreement, worth $100 million, or about 314 MD, it is intended to co-finance the import of crude oil and petroleum products for the benefit of STIR.

The third agreement concerns a financing of 50 million dollars (about 157 MD), which will be reserved for the financing of the import of raw materials for the Tunisian Chemical Group (GCT).

On this occasion, Minister of Economy and Planning, Samir Saied, commended, the level of cooperation between Tunisia and the ITFC, which is a solid partner for Tunisia on the financial and technical levels, given the financing it grants to support the activities of several national companies active in strategic sectors such as energy, chemical and refining industries.

He expressed the common will of both parties to strengthen and diversify cooperation, especially during this difficult local and international situation.

For his part, Hani Salem Sonbol reiterated ITFC’s readiness to continue to provide the necessary support to Tunisia to ensure its needs in raw and strategic materials and by adopting innovative approaches to promote trade.

The ITFC has mobilised, since its creation in 2008, financing of around 2 billion dollars, mainly directed to the strategic energy sector.

Source: Agence Tunis Afrique Presse

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