The European Investment Bank (EIB) announced on Tuesday, June 11, 2024, a significant €450 million investment in Tunisia, comprising loans and grants.
This funding aims to support micro, small, and medium-sized enterprises (MSMEs) and crucial infrastructure projects, ultimately fostering job creation, innovation, and balanced development.
Empowering Small Businesses
A €170 million credit line, supplemented by an €8 million grant from the European Union (EU), will bolster the growth of MSMEs. These businesses represent approximately 90% of Tunisia’s enterprises and employ 60% of its workforce.
A €210 million loan will finance the expansion of the road between Sfax and Kasserine, improving regional connectivity and reducing mobility costs. This investment aims to promote inclusive growth and private sector development in the country’s interior by connecting them to major economic centers.
Strengthening Energy Security
A €45 million loan will support the electrical interconnection project between Tunisia and Italy. This initiative will enhance Tunisia’s energy security and enable it to harness its renewable energy potential, aligning with broader EU goals for energy security and sustainability.
In addition, the EIB will provide a €25 million grant to modernize schools in Tunisia, building on a €40 million loan granted in 2023. This project aims to improve learning and teaching conditions for approximately 14,500 students by constructing 80 new primary schools and increasing the digitalization of education.
EIB Vice President Reaffirms Commitment to Tunisia
“Tunisia is an important partner for the EIB in the region, and our support for its development initiatives remains strong,” stated EIB Vice President Ioannis Tsakiris. He emphasized that these investments will play a crucial role in job creation, innovation, and fostering balanced development for the benefit of all Tunisians.