FINANCIAL NEWS

Tunis gets USD500m loan from Qatar

19 Apr 2012

(MENAFN) The Qatari government agreed to award Tunisia USD500 million loan, to help the government in its economic recovery drive from last year’s uprising, Reuters reported.

The central bank explained that the five-year loan carries an interest rate of 2.5 percent. In March, it was reported that Qatar would commit USD500 million loan to Tunisia.

The newly-elected government expects the economy to return to growth in 2012 but has sought external support.

Tunisia’s economy was hit by months of political unrest, which overthrew Tunisian leader Zine al-Abidine Ben Ali, last year. Tunisia’s economy contracted by 1.8 percent in 2011.

Tunisia also got US guarantees for a planned bond issue this year, which should allow it to borrow on international markets at a favorable rate.

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