EU approves 500 mn euro loan to Tunisia

BRUSSELS, June 1 (KUNA) — The EU announced Wednesday the approval of 500 million euro in macro-financial assistance to Tunisia to support economic stabilisation of the country.
An EU statement said the assistance will be available for a period of two and a half years. It will be provided in the form of loans, to be disbursed in three instalments. The loans will have a maximum average maturity of 15 years.
The assistance will be subject to a memorandum of understanding (MOU), to be agreed between the EU and Tunisia.
The MOU will lay down clearly defined economic policy and financial conditions, focusing on structural reforms and sound public finances.
A precondition for granting macro-financial assistance will be that Tunisia respects effective democratic mechanisms and the rule of law, and guarantees respect for human rights, it added.
The European Parliament is expected to approve the decision in its full session on 6-9 June. (end)