December 11, 2010 / 3:19 PM / 10 years ago

EIB lends Tunisia 194 mln euros for power project

TUNIS, Dec 11 (Reuters) - The European Investment Bank (EIB), the European Union’s financing arm, will provide a 194 million euro loan to Tunisia for an electricity project, it said on Saturday.

Mohamed Nouri Jouini, Minister of Development and Philippe de Fontaine Vive, Vice president of (EIB) signed the agreement on Saturday on the sidelines of an economic conference in Tunisia.

“The loan will be used to finance the construction of an electric generator with natural gaz in Sousse City,” said Jouni.

The total project cost is estimated at 388 mln euro.

The EU has spent billions of euros in loans and aid to help its southern partners to improve their investment climate and infrastructure under the Euro-Mediterranean partnership.

Tunisia, which has one of the most open economies in north Africa and close economic ties to Europe, has received 2.6 billion euros in loans and aid from the European Investment Bank over the last three decades.

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