AMF - Arab Monetary Fund

04/11/2018 | News release | Distributed by Public on 04/10/2018 22:11

Arab Monetary Fund provides two new loans with a total value of 37 million Arab Accounting Dinar, equivalent to 161 million US dollars to the Republic of Tunisia


On Tuesday 10th of April 2018, on the side of the joint annual meetings of the Arab Financial Institutions, in Dead Sea in the Hashemite Kingdom of Jordan, agreements were signed by which the Fund provides two loans to the Republic of Tunisia. The first one is a compensatory loan to support the contingent balance of payments position, and the second under the facility of enabling small and medium enterprises environment, to support reform program agreed between the two parties. The total value of the two loans is about 37 million Arab Accounting Dinar, equivalent to 161 million US dollars.

The agreements were signed by HE Dr. Marouane El Abassi, Governor of Central Bank of Tunisia, on behalf of the Republic of Tunisia, and HE Dr. Abdulrahman A. Al Hamidy, the Director General Chairman of the Board on behalf of Arab Monetary Fund.

It should be noted that, by providing these two loans, the number of loans provided so far by the Fund to the Republic of Tunisia is seventeen, amounting to a total value of about 150 million Arab Accounting Dinar, equivalent to about 638 million US dollars.

On the other hand, the Fund through the Arab Trade Financing Program provided credit facilities to 9 accredited Tunisia National Agencies. In this respect, the total value of the lines of credit agreements concluded with the Program amounted to 843million US dollars. Thus, the Arab Monetary Fund and Arab Trade Financing Program finances to the Republic of Tunisia amount to about 1.5 billion US dollars.

The cooperation between the Republic of Tunisia and Arab Monetary Fund is not only limited to financing aspects. The Fund provides, through its Economic Policy Institute, capacity-building opportunities to the Tunisian technical cadre working at the Central Bank, Ministry of Finance, Ministry of Trade, and the National Institute of Statistics. In this context, so far 549 Tunisian cadres have been participated in the training courses organized by the Institute, in various economic, banking, monetary, financial and statistical fields.

In addition to that, the Republic of Tunisia benefits from the various technical assistance programs provided by the Fund to assist its member countries in enhancing efficiency and development of financial and banking sector. In addition to strengthening capacity building in statistics in the framework of Arab Statistics Initiative 'Arabstat'.