PANA
Tunisia’s minister of economy, finance and investment support, Ali Kaali and the CEO of the International Islamic Trade Finance Corporation (ITFC), Hani Salem Sonbol, have signed a series of funding agreements to support the North African country, the ITFC boss has announced.
The two parties have signed a new 2021-2023 framework agreement, designed to provide Tunisia with financing to support the Tunisian economy, Sonbol said in a statement to the press.
Over the past three years, ITFC has made available to Tunisia about US$1.5 billion under the framework agreement signed between the two parties in 2018.
This funding was intended to strengthen the energy, agriculture and industry sectors.
Companies which also benefited from the financing, included the Tunisian Electricity and Gas Company, the Tunisian Chemical Complex, the Tunisian Refining Company and the Tunisian Iron and Steel Company.
The first agreement, which was recently signed for US$50 million, is for the Tunisian Chemical Complex which will make it possible to supply enough phosphates for export.
The second agreement for 100 million euros, is in favour of the Tunisian Electricity and Gas Company to enable the company import natural gas for the production of electricity.
ITFC, a member of the Islamic Development Bank (IDB) group, was created in 2008 to advance trade and improve the economic and living conditions of the people of the Islamic world.
