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AfDB, Tunisia Sign Loan Agreements

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AfDB, Tunisia Sign Loan Agreements

Tunis, 27 September 2005 - The African Development Bank and Tunisia signed two loan agreements worth 133.025 million UA in Tunis on Tuesday.

The first agreement involves a loan of 33.025 million UA to finance a project for the reduction of pollution and the improvement of the competitiveness of the Gafsa Phosphates Company (CPG) as well as the country’s mineral extraction sector. 

The Second loan of 100 million UA (117 million Euros) will finance the Third Competitiveness Support Programme which is to assist the government achieve the target of an average annual GDP growth rate of 5.2% set for the Tunisian economy during 2005-2006.

The Agreements were signed for the ADB by Vice-President Theodore Nkodo, in charge of the North, East and South Operations Region, and for Tunisia by Mr. Khelil Lajimi, Secretary of State in the Ministry of Development and International Cooperation responsible for international coordination and external investment.

The loans bring the Bank’s cumulative commitment in Tunisia to 3259 million UA, VP Nkodo said.

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