The Saudi-based International Islamic Trade Finance Corporation (ITFC) will lend $1.2 billion to debt-ridden Tunisia to help state-owned enterprises import raw materials, the Tunisian Economy Ministry said in a statement on Monday.
The loan, repayable over three years, will enable Tunisian state-owned enterprises to help cover the cost of imports such as “crude oil and petroleum products”, the statement said.
The loan agreement, which will be repaid over three years, was signed in Riyadh on Sunday by Tunisian Economy Minister Feryel Ouerghi and Hani Salem Sonbol, CEO of ITFC, which is a member of the Islamic Development Bank Group.
TunisianMonitorOnline
