EIB Global mobilises substantial resources in Tunisia with €215 million in new financing in 2022

• The €215 million in new financing in 2022 will meet urgent energy supply and food security needs.
• 2022 saw a €117 million increase in disbursements to support project implementation.
• Tunisia has been the biggest beneficiary of EIB loans (per capita/gross domestic product) outside of the European Union for the last ten years.

The European Investment Bank (EIB), the EU bank, announced at a press conference that it had unlocked over €2.5 billion since 2011 to finance projects fostering sustainable and inclusive economic growth and job creation in Tunisia. Two-thirds of this financing was granted to the Tunisian government and state-owned enterprises for investment projects, while one-third went to supporting small businesses, very small businesses and micro-enterprises, as well as the different sectors of Tunisian industry.

This makes Tunisia the number one beneficiary of EIB loans (per capita/GDP) outside the European Union.

“Supporting development is a priority for the EIB. This is why we launched EIB Global, our new arm for operations outside the European Union, to strengthen our partnerships while supporting projects with high economic and social impact. In 2022, our activities in Tunisia focused on energy supply and food security, meeting urgent needs in these areas in the face of climate change and the global grain crisis,” said EIB Vice-President Ricardo Mourinho Félix. “In 2023, the EIB will continue to take action to meet the needs and priorities of Tunisia.” 

The EIB signed two finance contracts in 2022 to support food security and electricity supply, bringing total EIB investment to €215 million, a major increase compared to 2021 (€65 million). This new financing is being provided via EIB Global, the EIB’s new international partnership and development finance arm. It is in line with the European Union's priorities for Tunisia and the Agenda for the Mediterranean.

A €150 million finance contract was signed with the Office des céréales to contribute to modernising grain storage infrastructure and increasing supply capacity for imported wheat. The second, €65 million finance contract was signed with Société tunisienne de l’électricité et du gaz (STEG), with the aim of improving the reliability of the Tunisian power grid and energy supply.

2022 also saw a significant increase in disbursements for strategic development projects in Tunisia, with a total amount of €117 million (vs. €44 million in 2021). The EIB made a particular effort to help its Tunisian borrower partners to meet loan disbursement conditions to speed up the implementation of EIB-financed projects, including by setting up a specialised unit.

“The EIB is reaffirming its commitment to continued support for economic growth and social inclusion in Tunisia. This can be seen not only in the new signatures but also and above all in the disbursement of signed loans for key projects such as the modernisation of transport infrastructure, development of under-equipped residential areas, modernisation of schools and support for innovation,” highlighted the Head of the EIB’s Regional Office in Tunisia Jean-Luc Revéreault.

In Tunisia, the EIB finances projects with high economic and social impact in strategic sectors such as education, urban development, transport and energy.

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance. It is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world. 

https://twitter.com/EIBGlobal

https://www.linkedin.com/company/eib-global/