Tunisia takes in € 357 million loan from the International Bank for Reconstruction and Development

The Official Gazette of Tunisia said on Friday that the International Bank for Reconstruction and Development has lent the country 357 million euros.

Tunisia, which is experiencing its worst financial crisis, is trying to mobilize foreign funding to avoid the collapse of public finances.

On April 20, the Tunisian Central Bank signed a $ 700 million loan agreement with the African Export-Import Bank to finance the 2022 budget.

The Tunisian central bank added that the interest on the loan is 5.76% and the loan must be repaid in 7 years, including a two-year grace period.

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