EIB prepared to double Tunisia lending

Mar 16, 2010

The European Investment Bank (EIB) is prepared to double its lending to Tunisia during 2010, its Vice President has told Reuters.

Speaking at a conference in Tunis organised by the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), Philipe de Fontaine Vive informed the news agency it could raise the amount it gives the country to around $900 million (€654 million).

"We granted Tunisia funding over $440 million last year and are ready to double that amount this year," he was quoted as saying.

The money would be used to assist the private sector and energy and environmental development, as well as to fund scientific research.

Tunisia receives one of the largest funding packages from the bank outside of the European countries and conducts the majority of its trading with the European Union.

Mr De Fontaine Vive is Joint-Chair at the three-day FEMIP event, which ends today (March 16th) and was organised to discuss research, development and innovation in Tunisia and the Mediterranean.