Loan agreement signed between CDP and the Central Bank of Tunisia
Under the agreement, which is part of the Mattei Plan, CDP will manage the Revolving Fund for Development Cooperation of the Italian Ministry for Foreign Affairs and International Cooperation (MAECI)
In the partnership between the Italian and Tunisian Governments, Cassa Depositi e Prestiti (CDP) and the Central Bank of Tunisia signed a loan agreement today for 50 million euros of aid credit. The loan, which is part of the Mattei Plan, follows on from the agreement signed on 17 April 2024 between Italy and Tunisia to directly support Tunisia in the renewable energy and energy efficiency sector.
CDP is involved as manager of the Revolving Fund for Development Cooperation (FRCS), which is used by the Italian Ministry of Foreign Affairs and International Cooperation (MAECI) to support Italian cooperation partner countries. The Tunisian Government will be a direct beneficiary, through the Central Bank of Tunisia, in accordance with aid credit procedures.
The funds will be allocated to the Tunisian Government’s programme, that aims to strengthen the country’s macro-economic stability and promote the structural reforms necessary for a sustainable economic recovery.
Italy’s contribution to Tunisia’s programme, which will consolidate the historic partnership between the two nations, focuses in particular on structural reforms in the energy sector to encourage the independent production of electricity from renewable sources, with the goal of decreasing Tunisia’s reliance on fossil fuels, and thus its energy imports.
The outcome for public finance will be a general reduction in the trade deficit and in public spending for aid earmarked for energy products, with a consequent easing of pressure on the State coffers. This will make it possible to free up public resources for investments supporting the country’s socioeconomic development, benefitting public and private companies alike.