Brussels, 06/03/2014 (Agence Europe) - The EIB has granted Tunisia funding of €150 million (around 325 million TND) to operate an oil concession which “will be a new umbilical cord for the Tunisian economy on an energy level”, according to the official press release. The loan has been granted to ETAP (Entreprise Tunisienne d'Activités Pétrolières), the lead contractor of this energy project carried out in partnership with the Austrian company OMV, and which will make it possible to significantly reduce CO² emissions through controls and the elimination of gas flaring. This will allow Tunisian companies to “develop green energy whilst supporting job creation”.
The Tunisian energy minister said that “through this funding, the EIB is further reinforcing its partnership with Tunisian companies” and called upon it to “continue its support for other projects which support development in Tunisia in general”.
“This is considerable funding and is highly symbolic for Tunisia”, providing an “extremely concrete illustration of what the Euro-Mediterranean partnership is”, said de Fontaine Vive. “The EIB is a trusted partner of Tunisia and the energy sector is one of the key economic assets of the country. By supporting projects of this kind, we are taking concrete action for the economic and sustainable development” of this country and for “greater energy independence”. “This project will have a direct impact on improving the daily lives of Tunisians”, the vice-president of the Bank added.
The EIB states that since the “democratic uprising” of January 2011, it has granted €563 million (1.2 billion TND) to funding to implement projects in key sectors of the Tunisian economy, such as energy, SMEs, infrastructure and social housing. The EIB has also prepared for the future by approving and launching, in 2013, €470 million (one billion TND) in new funding. (FB)