EBRD increases economic support for Tunisia

From 20 to 50 million euros for trade

23 October, 11:56

    (ANSAmed) - TUNIS, OCTOBER 23 - The European Bank for Reconstruction and Development (EBRD) is stepping up its efforts to support the Tunisia economy.

    It has increased financing for trade earmarked for the Banque de Tunisie (BT) from 20 million to 50 million euros in order to help Tunisian exporters and importers continue their commercial activities during the COVID-19 pandemic.

    The announcement was made in a BT statement that noted that this decision was part of EBRD's Trade Facilitation Program (TFP). The program focuses on promoting foreign trade towards, from, and inside the economies in which the EBRD invests.

    Maintaining trade during the current crisis is vital for the global economy and in response to high demand, EBRD has increased its financing limit for trade to 3 billion euros for 2020 alone.

    The increase in financing for trade provided to the Banque de Tunisie will help mitigate halts to trade flows and supply chains due to current market conditions.

    The EBRD is also working with five Tunisian bank partners whose overall limits for commercial financing will be over 100 million dollars.

    Since the beginning of its operations in Tunisia in 2012, the EBRD has invested 945 million euros in 46 projects and provided technical assistance to almost 1,200 small enterprises, two thirds of which are in non-central areas of the country.

    (ANSAmed).

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