EU approves 150 mln euro loan for Tunisia

BRUSSELS, The European Commission, on behalf of the European Union, Wednesday approved the disbursement of a 150 million euro (USD 166 million) loan for Tunisia.

This is the third and final disbursement under the EU’s second Macro-Financial Assistance (MFA) programme for the north African nation, following the completion of an important set of policy measures intended to support the country’s economic transition, read a statement by the EU’s executive arm.

PierreMoscovici, EU Commissioner for Economic and Financial Affairs, said this disbursement “underlines our sustained commitment to supporting Tunisia and its people.” The EU adopted the second MFA programme, worth 500 million euros (USD 555 million), in July of 2016, providing Tunisia with 800 million euros (USD 888 million) in funds since 2015, added the statement.

MFA programmes are part of the EU’s wider engagement with neighbouring countries who suffer from severe balance-of-payments problems.

Source: Kuwait News Agency