| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/17/1958 (10.07.17) |
| Publication Date | 10/07/2017 |
| Content Type | News |
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Background: The first Macro-Financial Assistance programme to Tunisia was signed in September 2014. It is part of the EU's efforts to help the country respond to the severe economic difficulties it faces and the persistent political instability in the region. The operation supported Tunisia's process of economic recovery both by providing concessional funding, and by encouraging the implementation of a number of important policy measures agreed in a Memorandum of Understanding between the EU and Tunisia. This programme was expected to be followed by a second MFA programme (MFA-II) in the amount of €500 million, also in the form of loans. It was proposed following the terrorist attacks of 2015, which contributed to halting Tunisia's economic recovery. This had a significant impact on the country's balance of payments position and financing needs. The programme was agreed by the Council and the European Parliament on 6 July 2016. The disbursement of MFA-II funds was again tied to the implementation of a number of policy conditions mutually agreed upon. The Memorandum of Understanding, which lays down these conditions, was signed in April 2017. The EU's strategy of assistance to Tunisia also includes budget support programmes under the European Neighbourhood Instrument (ENI), of which Tunisia is a major recipient among the Southern Neighbourhood countries, as well as substantial loans from the European Investment Bank. The European Commission approved on 10 July 2017 the disbursement of a €100 million loan to Tunisia, which represents the third and last tranche of a €300 million Macro-Financial Assistance (MFA-I) programme to the country. |
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| Source Link | http://europa.eu/rapid/press-release_IP-17-1958_en.htm |
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| Countries / Regions | Europe, Northern Africa |
