Brussels, 14/05/2008 (Agence Europe) - FEMIP (Facility for Euro-Mediterranean Investment and Partnership), the financing arm of the European Investment Bank's (EIB) for the Mediterranean region, has granted two loans to assist both the private and the public sector in Tunisia, a press release published on 8 May says.
The first loan of €200 million will be made available to small and medium-sized enterprises through five Tunisian banks that have a strong local foothold: Amen Bank, Arab Tunisian Bank, Banque de l'Habitat, Banque Internationale Arabe de Tunisie and Union Bancaire pour le Commerce et l'Industrie. The second loan of €60 million has been granted to Société Tunisienne d'Electricité et du Gaz (STEG) to underpin its investment programme for developing Tunisia's natural gas network.
Both operations will benefit from a guarantee from the Tunisian Government. The loan has an environmental dimension since it aims to reduce imports of petroleum products by encouraging industrial and domestic users to convert to much cleaner natural gas. This fifth FEMIP loan for Tunisian SMEs since 1998 brings the total amount advanced to EUR 705 million. (L.C.)