Tunisia: Parliament Passes Bill On €600 Million Loan Agreement Between Tunisia and EU

Tunis/Tunisia — The House of People's Representatives (French: ARP) passed at a plenary on Thursday a bill approving a memorandum of understanding and loan agreement between Tunisia and the European Union (89 votes in favour against 9 abstentions and 21 against).

The €600-million loan (1,975.94 million dinars) will be granted to the Tunisian government under the Macro Financial Assistance (MFA) programme, to help deal with short-term financial balances.

The aim is to meet the urgent needs of public finances and the balance of payments following the spread of the coronavirus pandemic.

This loan is subject to general conditions, notably the presence of an economic reform programme agreed with the International Monetary Fund (IMF).

The decision was adopted by the European Parliament and the Council on May 25, 2020, after its approval by the IMF Executive Board.

The loan will be directed to 17 reforms in 4 areas related to public finance, public administration, public institutions and social protection.

It will also help bolster the investment climate.

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