Tunisia secures €300m from EU to weather pandemic impacts

The European Union released Wednesday €300 million accounting for the second tranche of the bloc’s support for the North African country in surfing the impacts of the COVID-19 pandemic.

Tunisia received the first tranche of the same amount, in June last year.

The bloc last year rubber stamped a Macro-financial Assistance (MFA) program worth €600 million for Tunisia. The assistance in the form of loan is without interest and earmarked to support Tunisia’s economic reforms amid the pandemic.

“The European Commission has agreed to provide Tunisia with an interest-free loan, with a 20-year repayment period, to support efforts to mitigate the economic impact of the coronavirus pandemic,” said last year Marcus Cornaro, head of EU mission in Tunisia. “The remaining funds will be disbursed based on Tunisia’s commitment to the reform process,” he added.