KFW grants new € 100 million loan to Tunisia

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Tunisia will benefit from a budget support of 100 million euros from the German Development Bank (KFW).

The financing agreement will be initialed this Wednesday, July 11 between the Republic of Tunisia and the German banking institution, according to an announcement of the Tunisian Ministry of International Cooperation. It is a support to the state budget aimed primarily at supporting reforms in the financial and banking sectors, he says.

This line of credit is in addition to the loan of 100 million euros granted by the same institution in September 2017 to Tunisia, and intended to finance several projects in the water sector.

In November 2016, the two parties also signed a loan agreement totaling 105 million euros, on the sidelines of the international conference “Tunisia 2020”. The purpose of this funding was to boost investment and boost economic growth and momentum in the country.

In addition, another € 93.5 million loan was granted to the Tunisian Electricity and Gas Company (STEG) for the construction of a water desalination plant and a photovoltaic power plant. year.

It should be noted that KfW (Kreditanstalt für Wiederaufbau) was originally set up to finance the reconstruction of the German economy after the Second World War. Today, its mission is, among other things, to finance exports and cooperation for development.

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