EU approves release of €100 million in assistance to Tunisia
July 11, 2017
The EU on 10 July approved the release of €100 million in assistance to Tunisia, the third and last tranche of the €300 million Macro-Financial Assistance programme to Tunisia, adopted in May 2014.
The programme is part of the EU’s comprehensive efforts to help Tunisia respond to the severe economic difficulties it is facing and the persistent political instability in the region. The operation has supported Tunisia’s process of economic recovery, both by providing funding, and by encouraging the implementation of a number of important policy measures agreed between the EU and Tunisia.
European Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici said the funding reaffirmed the EU’s continued commitment to support Tunisia in its efforts to further its economic and political transition. “Notwithstanding an unstable regional context, Tunisia has demonstrated its determination to consolidate a fully-fledged democratic system, and to achieve prosperity for all its citizens. The EU firmly stands with Tunisia and its people,” he said.
This first macro-financial assistance operation to Tunisia will be followed by a second MFA programme worth €500 million, also in the form of loans. The new operation was proposed following the terrorist attacks of 2015, which contributed to halting Tunisia’s economic recovery. This had a significant impact on the country’s balance of payments position and financing needs.
The EU’s strategy of assistance to Tunisia also includes budget support programmes, as well as substantial loans from the European Investment Bank.