Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Finance

IDB provides $154 million to Tunisia’s STEG via the ITFC  

Thursday, 07 February 2019 12:27
IDB provides $154 million to Tunisia’s STEG via the ITFC  

(Ecofin Agency) - The International Islamic Trade Finance Corporation (ITFC) announced that on February 5, 2019, it granted a $154 million loan to Tunisian Company of Electricity and Gas (STEG).

The loan agreement was signed in Tunis by the ITFC executive director Hani Salem Sonbol, and Moncef Harrabi, STEG’s CEO in the presence of Tunisia’s minister of development, investment and international cooperation Zied Laâdhari.

It will be used to balance STEG’s books that degraded recently due to the decline in oil prices on the international market and the depreciation of the local currency against the USD and the Euro. The loan will also help pay for natural gas imported from Algeria.

This loan falls within the framework of the promise made by the Islamic Development Bank’s ITFC head office, during its 43rd annual meeting (in April 2018 in Tunis) to provide $1.5 billion to Tunisia.





 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.