World Bank loans Tunisian government $500m

 12 Jun 2018 - 20:40

World Bank loans Tunisian government $500m

QNA

Tunis: The World Bank decided to grant Tunisia a loan of USD 500 million, which it is expected to receive at the end of June.

It is expected that the World Bank board will meet after two weeks to consider the possibility of formal approval of this new installment of the extended loan, estimated at USD 259 million, will be disbursed early July, according to sources at Tunisia's Ministry of Economy.

The new loan will be allocated to support public budget resources in Tunisia.

Governor of the Central Bank of Tunisia (BCT) Marouane Abassi said that these important financial resources will support Tunisia's foreign exchange reserves and will provide about 72 days of supply.

In a statement to Qatar News Agency (QNA) on the sidelines of the signing ceremony of a cooperation agreement between the World Bank and the National Authority for Combating Corruption, Abassi expressed hope that the upward trend of foreign exchange reserves in Tunisia will continue through the revenues provided by the tourism sector, amid expectations of an increase in the flow of tourists during the current season.