Jun 24 2011 |
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EIB approves 163-million-euro funding for road modernisation project in Tunisia
TUNIS - A financing agreement on a 163-million-euro credit was signed on Friday in Tunis between Tunisia and the European Investment Bank ( EIB ), noted TAP reporter.It is a contribution to finance a "road modernisation" project worth 595.5 million dinars.
The project, which should generate 7,000 jobs, aims, according to the Ministry of Planning and International Co-operation, to improve urban road infrastructure in Tunisia through the construction of 7 sub-projects in Greater Tunis (construction of interchanges and development of cross-roads), and 5 sub-projects of road extension as well as the construction of new ring roads in the governorates of Sfax, Kef, Mahdia and Monastir.
EIB financing is repayable over 25 years, including 4 years of grace, with a fixed interest rate in each disbursement process.
Mr. Triki said that 4 other co-operation projects with the EIB are waiting, including conducting an analytical study on development of the business climate in Tunisia, inviting the bank to materialise the Mediterranean Bank project.
Mr. De Fontaine Vice said the project is part of guidelines set by the current government, particularly regarding creation of jobs in different regions of the country.
The official added that a set of projects worth 500 million dinars are waiting for disbursement, specifying that slowing of disbursement on two credit lines granted to small and medium enterprises (SMEs) is due to control measures taken to make sure that no one of the 110 persons close to the former president (appearing on the list of Tunisian authorities) or companies close to them could benefit from them.
He expressed EIB 's readiness to further step up its funding, particularly in capital risk, and this to meet the demand of the Tunisian Finance Ministry.
© Tunis-Afrique Presse 2011
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