5-Year Cooperation Plan between Tunisia, EBRD

5-Year Cooperation Plan between Tunisia, EBRD

Wednesday, 13 June, 2018 - 06:00
The headquarter of the European Bank for Reconstruction and Development ( EBRD) is seen in London, Britain, November 22, Britain 2016. REUTERS/Stefan Wermuth
Tunis - Al Munji Al Saidani
The European Bank for Development and Reconstruction has discussed with Tunisia a five-year economic strategy that would consolidate financial and technical cooperation between the two sides until 2023.

The discussions took place in Tunis between Tunisia’s Minister of Development, Investment and International Cooperation Ziad Ladhari and EBRD Managing Director for the Southern and Eastern Mediterranean region Janet Heckman.

Ladhari said following the talks that setting the strategy would contribute greatly to the improvement of cooperation between the two sides, which would reflect positively on the Tunisian economy.

Since September 2012, when EBRD operations began in Tunisia, the Bank has invested millions in dozens of projects in the country.

In December 2017, the EBRD provided Banque de Tunisie with a financing package that consists of a €50 million loan for on-lending to small and medium-sized enterprises (SMEs).

As part of its continued support to Tunisia’s expansion of international and intra-regional trade, EBRD provided this week a US$20 million trade facility to Banque de Tunisie under its Trade Facilitation Program.

According to EBRD, the trade finance line will allow Banque de Tunisie to issue guarantees in favor of international commercial banks covering the commercial payment risk of the transactions undertaken by the Tunisian bank.

“This EBRD facility will help Banque de Tunisie to support its Tunisian clients and allow international trade flows to grow, which will contribute to the overall economic growth of the country,” Heckman said.

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