20 December 2012 6:42 pm | | 0


Share     Share       Share     Share  

EIB headquarters in Luxembourg

The European Investment Bank (EIB) decided this afternoon to commit 270 million Euros to help Tunisia boost employment among young people, diversify the private sector, and develop infrastructure in the poorest regions, announced a communiqué from the EIB.

Two financial contracts were signed today, totalling 170 million Euros, while the commitment for the remaining 100 million Euros will be penned in 2013.

The first contract was signed between the EIB, four banks – Banque tuniso-koweitienne, Amen Bank, Attijari Bank, and Banque de Tunisie – and two leasing companies – Attijari and Tunisie Leasing. The line of credit that the EIB is furnishing these banks and leasing companies comes to a sum of 100 million Euros and aims to support small and medium-sized enterprises (SMEs). Furthermore, the EIB hopes that this financial contract will facilitate access to credit thereby making SMEs more competitive and encouraging them to hire more employees.

The second contract was signed between the EIB and the Tunisian government with the goal of assisting local authorities in the rehabilitation and modernization of infrastructure in 119 poor urban areas across the country. The sum of this line of credit is 70 million Euros and will be allocated specifically to projects related to local water networks, road drainage systems, power networks, and public areas, such as playgrounds and sports and cultural facilities.

“Through this action we will be improving the daily life of Tunisians. We are preparing the future of the younger generations,” said EIB Vice President Philippe de Fontaine Vive at today’s signing ceremony.

Share     Share       Share     Share  

  From the same category

            

Switzerland to Return $40 Million in Ben Ali Assets to Tunisia

Economy to ‘Remain Tough,’ 2015 to Be Worse, Says Government

Tunisia Pitches Development Projects to Arab Funders

Private Airline to Start Flights to New York

            

Ben Ali Family’s Corrupt Grasp on Tunisian Economy Detailed in New Report

New 5 Dinar Bill Replaces Last Ben Ali Banknote

African Development Bank Maintains $2.1 Billion in Support for Tunisia

Despite Possible Price Increase, Beer Drinkers Say They Will Keep Drinking

            

Elimination of Cement Subsidies Could Raise Construction Costs

Union and Government Discuss Potential Minimum Wage Increase

Protesting Police Officers Block Traffic at Major Tunis Roundabout

Bahrain Bank Funding New Three Billion Dollar Investment Center in Tunisia


Leave Feedback


  Follow us

Connect on YouTube Connect on Google+ Connect to itunes Subscribe via RSS Feed



  Latest Videos


Play Video

Motocross Racers in the Forests of Bizerte, Tunisia

Bizerte, the northernmost city in Africa, hosted the fourth round of the...

Play Video

Endangered Whale Brought Ashore in Tunis Suburb

Onlookers in the popular tourist spot of Sidi Bou Said, near Tunis,...

Play Video

'Kima Enti:' Mixing Tunisian Traditions With Modern Design

"Kima Enti" is a hand-made art and design project launched by independent...

Play Video

One-Year Anniversary of Chokri Belaid's Death

On February 6, 2014, family and supporters of slain Tunisian politician Chokri...

Play Video

Klay BBJ explains his arrest

Tunisia Live's Nissaf Slama interviews rapper Klay BBJ on his music, arrest,...



Tabbed Structure - Regular
UGTT Union Nominated for Nobel Peace Prize...
(1381 Views)
Unemployed Tunisians Risk Their Lives to Build Future...
(1173 Views)
Tunisia Returns Stolen Ancient Artifact to Algeria...
(1152 Views)
Switzerland to Return $40 Million in Ben Ali...
(1120 Views)
Pollution Ravages Old Port of Tunis...
(851 Views)
Motocross Racers in the Forests of Bizerte...
(849 Views)
NCA Approves Judicial Body, Looks Ahead to Electoral...
(847 Views)
Ben Ali Officials To Be Released in Revolution...
(808 Views)
Members ‘Freeze’ NCA Participation Over Reduced Sentences for...
(765 Views)
 
Low Turnout and Mixed Feelings for Algerians Voting in Tunisia...
Update: Libyan Kidnappers Demand Militants’ Release...
New Areas Around Chaambi Declared Military Zones...
Pollution Ravages Old Port of Tunis...
NCA Approves Judicial Body, Looks Ahead to Electoral Law...
Motocross Racers in the Forests of Bizerte...
Unemployed Tunisians Risk Their Lives to Build Future in Europe...
Members ‘Freeze’ NCA Participation Over Reduced Sentences for Ben Ali Officials...
Ben Ali Officials To Be Released in Revolution Killings Case...