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Team Europe pledges EUR mns for Elmed: The European Union and its Team Europe partners — which include the European Investment Bank (EIB) and European Bank for Reconstruction and Development (EBRD) — pledged EUR 472.6 mn for the Elmed electricity interconnection project, according to a statement. The commitment includes the EUR 307.6 mn grant from the Connecting Europe Facility and additional loans and grants for critical infrastructure components in Tunisia. The European Commission had signed off on a EUR 307 mn loan agreement for the project last August. The partners had greenlit an EUR 125 mn loan agreement for the project in December along with EUR 27 mn grant under the Neighbourhood Investment Platform, the statement adds.
The first of the funds are already underway: EIB has approved an EUR 450 mn aid package for Tunisia, according to a separate statement. The package includes EUR 45 mn loan for Elmed project from EBRD, which the lender approved earlier this month, an EUR 210 mn loan for a corridor between Sfax and Kasserine, and EUR 170 mn credit line and EUR 8 mn in grants to support small and medium-sized enterprises (MSMEs). The EUR 45 mn for Elmed was first approved in December.
There’s more to come: Tunisia and the European Union have officially launched the Team Europe Initiative on Investment in Tunisia initiative to support the country’s energy, digital, transport sectors, TAP reports. The initiative is estimated to cost around TND 10 bn (c. USD 3.2 bn) allocated to 120 projects from 2021 to 2027. Projects in the energy sector include Tunisia’s planned Elmed electrical interconnection project with Italy.
IN OTHER NEWS TUNISIA NEWS-
Tunisia snags USD 17 mn grant for agroforestry and forest restoration: The African Development Bank (AfDB) granted Tunisia TND 53 mn (USD 17 mn) to promote agroforestry and restore degraded forest landscapes in Beja, Siliana, and Bizerte governorates, TAP reports. The financing includes a USD 14 mn loan and a USD 3 mn grant from the AfDB’s Strategic Climate Fund. Tunisia’s new project will run from 2024 to 2029, and it aims to reduce poverty, create wealth, improve Tunisia’s carbon footprint, and enhance forest fire-fighting resources.
