Tunis/Tunisia — A €150 million funding agreement for the benefit of the Grain Board (OC) was signed on Friday by Minister of Economy Samir Saied and Director, Lending operations in the EU Neighbouring Countries, European Investment Bank (EIB) Lionel Rapaille.

This agreement which falls under the Emergency Food Security Support Project in Tunisia (PAUSAT), aims to build the OC's capacities at the level of soft wheat supply and logistics related to the storage of grain, reads a ministry of economy press release Sunday.

Rapaille pointed out on the occasion, the importance of this funding aimed to suppot Tunisia's capacities at the level of food security, notably in a context characterised by climate change and the global crisis in the supply of basic commodities, notably grain, due to the Russia-Ukraine war.

Saed for his part, indicated that this funding will undoubtedly step up Tunisia's efforts to cope with the fallout of the global crisis, notably as regards grain supply.

It will also improve the basic and logistic infrastructure of the related State structures and develop this system'S good governance.

This funding will help ensure a regular supply of soft wheat, develop the arable sector and modernise its governance, he added.

The inking ceremony was attended by Minister of Agriculture, Water Resources and Fisheries Mahmoud Elyes Hamza, European Union Ambassador to Tunisia Marcus Cornao, Head of EIB Representation in Tunisia Jean-Luc Reverault and Grain Board CEO Bechir El Kthiri.