The Assembly of People’s Representatives on Saturday adopted Bill No. 22/2023 approving the credit agreement concluded on July 20, 2023 between Tunisia and Saudi Arabia to fund the State budget, with 116 votes for, 3 abstentions and 1 against.
The bill was approved at a plenary session held on Saturday morning, in the presence of Finance Minister Sihem Namsia.
It consists of a $400 million (TND 1,240 million) soft loan, with a 5% interest rate, to be repaid over 7 years, including a 2-year grace period.
The Saudi financing also includes a grant worth $100 million (around TND 300 million), i.e. 20% of the overall financing, making it preferential financing, according to the Finance Ministry.
The 2023 Finance Act provides for cash resources of almost TND 23.5 billion, which will be raised through domestic and external borrowing estimated at TND 9.5 billion and TND 14.8 billion, respectively (including TND 10.359 billion to support the State budget).
The raising of these resources has been somewhat delayed, given that the majority of financial partners make the granting of new financing conditional on the conclusion of an agreement with the IMF.
Source: Agence Tunis Afrique Presse