- USD 280 Million in Trade Finance Agreements for the benefit of the Tunisian Electricity and Gas Company, the Tunisian Company for Refining Industries and the Tunisian Chemical Complex.
- Tunisia has also developed the exchange of experiences within reverse linkage programs with other African member countries of the OIC, such as Djibouti.
The International Islamic Trade Finance Corporation, ITFC, a member of the Islamic Development Bank (IsDB) Group, has signed three trade financing agreements totalling US$ 280 million in favour of the Republic of Tunisia to support energy security and revitalize the industrial sector in addition to the agreement to support trade and exchange experiences between Tunisia and African countries, in cooperation with the technological pole of the pharmaceutical sector in Tunisia.
The first financing agreement amounts to 120 million Euros, or about 400 million Tunisian dinars, which will be allocated to contribute to financing the import of natural gas for the benefit of the Tunisian Electricity and Gas Company. As for the second agreement, it is estimated at US$100 million, or about 314 million dinars, which will be allocated to contribute to financing the import of crude oil and petroleum products for the benefit of the Tunisian Company for Refining Industries. The third financing agreement, which amounts to US$50 million, or about 157 million dinars, will be allocated to finance the import of raw materials for the benefit of the Groupe Chimique Tunisien.
On this occasion, Mr Samir Saied noted the level of cooperation between Tunisia and ITFC, which is a strategic partner for Tunisia at the financial and technical levels, given the financing it provides to support the activities of several national institutions active in strategic sectors such as the energy, chemical industries and refining sectors. Mr Saied also stressed the mutual trust that characterizes the relationship between the two sides and the joint keenness to further enhance and diversify cooperation, especially in these difficult circumstances at the local and international levels.
From his end, Eng. Hani Salem Sonbol renewed ITFC’s commitment to supporting member countries, especially Tunisia, highlighting the corporation’s readiness to continue providing the necessary support to Tunisia to secure its raw and strategic materials needs and by adopting innovative approaches to promote trade within the framework of achieving regional integration.
It is worth mentioning that, since its inception in 2008, ITFC has provided total financing of US$ 2 billion to cover the strategic energy sector and other strategic commodities. ITFC also sought to support the development of relations between Tunisia, Africa, and other Arab countries by accelerating trade exchanges and financing the commercial infrastructure specified within the framework of the Arab-Africa Trade Bridges Program.