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MFA is an exceptional EU crisis response instrument available to the EU's neighbouring partner countries. The signing of the MFA package – which consists of a Memorandum of Understanding and a Loan Facility Agreement – follows approval by the European Parliament and the Council in July 2016.
The EUR 500 million programme will take the form of a medium-term loan made in three instalments, or disbursements, over the course of 2017 and 2018. This assistance is part of the EU's comprehensive efforts to help Tunisia respond to the severe economic difficulties it has faced since 2011, particularly as a result of the 2015 terror attacks and persistent political instability in the region.
The new programme follows on from a EUR 300 million MFA programme approved in 2014. Two tranches of this latter programme have already been disbursed. Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, said: “Today's agreement demonstrates that the EU is taking its commitment to support Tunisia's democratic transition and its economic stabilisation seriously. This assistance will help ease Tunisia's financing constraints, support its structural reforms and encourage sustainable growth to the benefit of all Tunisian citizens.”
Commissioner Moscovici, Ms Lamia Boujnah Zribi, Minister of Finance of Tunisia, and Mr Chedly Ayari, Governor of the Central Bank of Tunisia, will participate in a signature ceremony that will be broadcast live at 14:00 CET.
(For more information: Annika Breidthardt – Tel.: +32 229 56153; Enda McNamara – Tel.: +32 229 64976)