The eight financial and development institutions will give Tunisia 5. 5 billion Euros, including 2.5 billion Euros scheduled for the year 2018/2019 to be granted in the form of donations and loans, said Thursday, Commissioner for European Neighborhood Policy and Enlargement Negotiations, Johannes Hahn.
Speaking at a press conference, the European official added, that these financial institutions; namely the French Development Agency (AFD), the African Development Bank (AfDB), the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the World Bank (WB), the International Monetary Fund (IMF), the German Development Bank (KFW), and the International Finance Corporation (IFC), will pay the remaining three billion Euros for investment projects, in case of implementation of the reforms already adopted by Tunisia.
Referring to his current visit leading a delegation of eight financial and development institutions, he reaffirmed that the objective is to support the process of economic transition in Tunisia and to demonstrate that these institutions will continue their activities in the country.
“Tunisia no longer has time to lose. It is expected to move forward and continue the reform process, to ensure a better future for its population, especially young people, “said the official.
EBRD Vice President in charge of Policy and Partnerships Pierre Heilbronn said the € 5.5bn disbursement will depend on the changing Tunisian economy, in addition to reforms undertaken by the country.
“We discussed with the Tunisian officials the issue of reforms in the renewable energy sector, in addition to the business climate and the development of the public-private partnership (PPP) in the sector of financing of infrastructures,” said the official.
In this context, he announced that the EBRD, in partnership with the IFC and the Tunisian Government, will organise an international conference on PPP in September 2018 in Tunis.
He added that this event will be an opportunity to examine, in the short term, the projects that could be financed under the PPP.
“Our message is clear, the more Tunisia succeeds in speeding up the reform process, the more projects will attract funding from donors,” heilbronn said.
The delegation, led by Johannes Hahn, had meetings with the President of the Republic, the Prime Minister, Speaker of the House of People’s Representatives and economic operators, focused on ways to boost cooperation between Tunisia and the European Union.