Tunisia to receive loans worth $180 million
Can the Arab Monetary Fund loan get the Tunisian economy back on track?
The Arab Monetary Fund (AMF) and the Central Bank of Tunisia, Tuesday, signed three loan agreements under which the Arab financial institution grants Tunisia three loans with a total value of 180 million dollars (276.4 million dinars).
The agreements were signed Tuesday in Tunis by BCTGovernor Chedli Ayari and Director General and BoardChairman of the AMF Jassem Manai.
The first and second loans worth 115.2 million dinars and 92.1 million dinars, respectively, will serve for supporting the balance of payment and official external reserves.
The third loan worth 69.1 million dinars will contribute to supporting the financial and banking sector reform programme. This financial support will cover the period between May 2012 and May 2013.
These loans will be repaid in three years and more with a grace period ranging between 1 and a half year and 2years, and an interest rate not exceeding 1%.
- Will terror attacks damper Arabs' appetite for European holidays?
- So cool it's hot: Saudi Arabia's $3.2B HVACR market driven by construction boom
- US, EU protectionist policies may be a blessing in disguise for GCC suppliers
- Dubai to Doha: How far can you stretch your dirham?
- OPEC's poor history of compliance will make production cut deal a challenge