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TunisiaTunisia: new EUR 500 million macrofinancial aid
February 16, 2016
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In a statement on Friday 12 February 2016, the European Commission said it is “ready to continue to assist Tunisia to overcome its economic difficulties and return to a path of more sustainable growth.”
The Commission is offering the country an extra macrofinancial aid of maximum EUR 500 million. This aid will take the form of medium-term loans with “favourable financial conditions.”
Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs, said that “this aid will help Tunisia to cover its external financing needs in the present context and give its citizens more leeway to implement a sustainable model of economic growth that is beneficial to all.”
A first , amounting to EUR 300 million, was already granted in 2014. The Commission noted that the microfinancial aid “adds to the important support for development that Tunisia is already receiving from the Union under the European Neighbourhood Policy, via the European Neighbourhood and Partnership Instrument and the EU’s other external financial instruments.” It noted that this assistance amounts to “more than EUR 1 billion of subsidies granted to the country since the 2011 revolution.”
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