EU approves 500mln euro loan for Tunisia

BRUSSELS, June 24 (KUNA) — The EU Council OF Ministers adopted a decision Friday to provide a maximum of 500 million euro loan to Tunisia under certain conditions.
The aim is to support economic stabilisation of the country and a substantive reform agenda, contributing to reducing its external financing gap, said the Council in a statement.
The loan will be available for a period of two and a half years to be disbursed in three instalments and will have a maximum average maturity of 15 years.
The loan will be subject to a memorandum of understanding 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 the loan will be that Tunisia respects effective democratic mechanisms and the rule of law, and guarantees respect for human rights, it added. (end) nk.ibi