EU approves €500m in loans to Tunis

The EU yesterday announced that it would provide Tunisia with €500 million in assistance in the form of three loan payments over two and half a years, the Anadolu Agency reported.

In a statement, the EU said that the decision aims to “support economic stabilisation of the country and a substantive reform agenda,” as well as to contribute to reducing its external financing gap.

“The support will be shared with the IMF, which on 20 May 2016 extended the arrangement under its extended fund facility for Tunisia for $2.9 billion.”

“European Parliament is expected to approve the decision at first reading at its plenary session on 6-9 June 2016,” the statement added.

As further conditions for the assistance, the EU said it expects Tunisia to respect real democracy, law, sovereignty and human rights.