Oct 15 2010 |
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Tunisia: Loan agreement to fund for electricity distribution network
TUNIS - A loan agreement worth 185 million euros, some 350 million dinars( MTD), was signed, on Friday in Tunis, between the European Investment Bank ( EIB ) and the Tunisian Electricity and Gas Company (STEG) .This agreement provides for funding the fitting out of an electricity distribution network, through the achievement of several high-voltage electricity distribution works (open-air high-voltage lines and underground cables, etc.).
The aim is to cope with the rising electricity demand in Tunisia, consolidate and widen the electricity distribution network and improve distribution of the new power stations' energy.
In addition to EIB , the project is to be financed by the Islamic Development Bank by means of 205 million euros, about 390 MTD, and other backers with 70 MTD.
Mr. Philippe de Fontaine Vive said that Tunisia is considered as EIB 's privileged partner which is endeavouring to adopt the same policies followed by European countries, to achieve the hoped-for economic integration.
He said the agreement, which is part of the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), is the 9th to have been signed with STEG .
He also announced that this bilateral co-operation would be further reinforced during the coming period, by the signing of a new loan agreement worth 194 million euros, 368 MTD, to finance construction of a new power station in Sousse to be operational by April 2013.
EIB deputy-chairman specified that 500 million euros (nearly 950 million dinars) are scheduled for 2010, as part of co-operation between Tunisia and the bank.
© Agence Tunis Afrique Presse 2010
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