EUR 34 million loan to support new environmental project in Tunisia
The Facility for Euro-Mediterranean Investment and Partnership (FEMIP) is to grant a loan of EUR 34 million in support of a new capital project aimed at cleaning up the Taparura site, in Sfax, Tunisia. For many years, the coastal area of the city of Sfax has been afflicted by a serious pollution problem due to the intense industrial activity in this region.
The Taparura project forms part of a wider action program put together by the Tunisian authorities to tackle the primary sources of pollution in the region. Sfax is the largest economic center and main source of industrial employment in southern Tunisia. The EUR 34 million loan will be used to clean up and harness the coastal area of Taparura, close to Sfax city centre, polluted over the years by industrial activities there.
The Taparura project is one of a series of broader measures taken by the Tunisian authorities to improve the overall environment in the Sfax region. The project promoter is the Tunisian Ministry for Infrastructure and Housing, which will continue its policy of pollution abatement and development of public and private industrial parks to give the city back its seafront. FEMIP will be involved in the pollution abatement phase of the Sfax project, thus supporting the economic and sustainable development of the region.
The finance contract for this loan was signed Monday by Mr. Philippe de Fontaine Vive, EIB Vice-President with responsibility for FEMIP, and Mr Mohamed Nouri Jouini, Tunisia’s Minister for Development and International Cooperation.
Mr de Fontaine Vive commented: "The Sfax project helps to create a favourable climate for private investment and boost economic development, one of FEMIP’s financing priorities. This is the second venture of its kind in Tunisia, following the land rehabilitation and development project near Tunis. This project is remarkable because of the extraordinary commitment shown by the Tunisian authorities to implementing a set of measures aimed at safeguarding and improving the environment." (menareport.com)
© 2004 Mena Report (www.menareport.com)