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Tunisia To Borrow $500 Million With U.S. Loan Guarantee



Published on 08 April 2014



by Office of the Spokesperson

(WireNews)

Washington, D.C.

The United States will provide a sovereign loan guarantee to Tunisia, enabling the Tunisian government to raise $500 million from international capital markets at favorable rates.

Above, U.S. Treasury Secretary Jacob Lew (left, smiling) meets with Tunisian Prime Minister Mehdi Jomaa (right, center) during the prime minister’s visit to Washington on April 4.

The guarantee improves Tunisia’s ability to implement economic reforms and lay the groundwork for broad-based economic growth, the U.S. Treasury Department said in an April 4 press release.

“We are encouraged by the progress the Tunisian government is making with regard to its political transition, and with the work underway to implement the tough but critical economic reforms that will lay the groundwork for increased investment and job creation,” Lew said. “Economic stability is key to political stability. This loan guarantee will complement the efforts of the Tunisian government to provide economic opportunities for the people of Tunisia, and will be important to the region. We are pleased to be partners in this effort.”

This is the United States’ second sovereign loan guarantee for Tunisia. It backed a loan of $485 million in 2012.

 

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Posted 2014-04-08 10:31:00