(MENAFN) On Wednesday, Tunisia singed a EUR100 million loan agreement with Germany to support budgets and reforms in the financial and banking sectors.
According to a statement distributed to the press, under the agreement Germany will grant Tunisia the loan on a concessionary basis with an interest rate that does not exceed 2.3 %, and a repayment period of 15 years, with a five-year grace period.
The loan agreement includes a EUR10 million (USD11.9 million) grant which will be signed later to help implement agreed reforms.
The loan is in line with German pledges to grant Tunisia a low-interest loan to encourage financial and banking reforms worth EUR300 million (USD357 million) over three years.
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