Vice-President of the European Investment Bank (EIB), Ricardo Mourinho Felix, announced that his institution will provide €45 million in financing to the Tunis Transport Company (Transtu). These funds will be used to purchase trains and equipment for the Tunis-La Goulette-La Marsa (TGM) line, a line that links Tunis, the capital, to its northern suburbs.
“This new €45 million financing will facilitate the mobility of Tunisians while improving the quality of urban transport services. As the European Climate Bank, we are very pleased to support this project, which will have a direct impact on the daily lives of Tunisians”, said EIB Vice-President Karel De Gucht, who visited the Tunisian capital as part of the signing of two other agreements.
This announcement comes at a time when Transtu is seeking additional financing to implement its fleet renewal project. The said project, which requires an overall investment of €90 million, had received a commitment from the European Bank for Reconstruction and Development (EBRD) in December 2019 to finance half (i.e. €45 million).