The Assembly of People’s Representatives (APR) started discussing on Monday the draft law approving the financing agreement signed on October 10, 2023 between the Republic of Tunisia and a group of local banks for a syndicated loan of pound 213 million and $13 million. This agreement was inked between the Finance Ministry and 18 local banks to finance the State budget as scheduled under the 2023 Finance Law. The banks involved are Bh Bank, Amen Bank, Attijari Bank, Banque Internationale Arabe de Tunisie (BIAT), Union Bancaire pour le Commerce et l’Industrie (UBCI), Société Tunisienne de Banque (STB), Banque de Tunisie (BT), Arab Tunisian Bank (ATB), Banque Zitouna, Banque Nationale Agricole (BNA), North Africa International Bank, Al Baraka Bank, Banque Tuniso-Libyenne (BTL), Wifak International Bank, Tunis International Bank, Bank abc, Banque Tuniso-Koweïtienne (BTK) and Banque de Tunisie et des Emirats. This loan will be disbursed in instalments over a period of one to three years. The State will repay this loan in a single instalment when the financing is completed. This loan is aimed at diversifying the funding sources of the State budget in line with the 2023 Finance Law guidelines, by drawing on resources from foreign currency deposits made by non-residents with local banks in order to relieve pressure on the domestic financial market, in which liquidity is becoming increasingly scarce, thus contributing to the stability of foreign currency reserves.
Source: EN – Agence Tunis Afrique Presse