Brussels, 28/04/2016 (Agence Europe) - The European Commission is proposing to the Council of the EU and European Parliament that further macro-financial assistance be granted to Tunisia in the form of a €500 million loan. The loan would be aimed at directly restoring balance in the balance of payments that is currently suffering against the backdrop of the economic and security crises. This loan forms part of the agenda of the Coreper meeting on 28 April and has reportedly been accepted by the member states. The decision to grant the loan will thus be formalised during a future Council session.
The assistance, which the Commission says is provided exceptionally, will be delivered in three tranches (€250 million in the near future, €150 million towards the end of the year, and the third tranche of €150 million coming in the first half of 2017). The tranches will be released each time on the basis of a follow-up programme for the work in which Tunisia is engaged with regard to the EU, like with regard to the IMF, which is also preparing to bring its aid.
This additional macro-financial assistance (MFA-II) follows the €300 million assistance that was approved in May 2014, but which was very late in entering into force (in March 2015) despite its urgent nature. The current implementation is reported to be on the right track. An initial tranche was paid on 7 May 2015 and a second one in December 2015. The third and final tranche is due to be released during the second quarter of 2016. (Original version in French by Fathi B'Chir)