Tunisia to receive loans worth $180 million
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%.
- 2014 in three words: deflation and lower returns
- How fear can be a good force in the workplace
- Housing and education costs eating away Dubai's tax-free benefits
- With World Cup under its sleeve, Qatar comes fourth in global slavery index
- The quiet overachiever: Is Oman going to do better than its GCC peers in 2015?