Vote on €500 million in EU financial aid loans to Tunisia
A plan to lend Tunisia €500 million on favourable terms to help it overcome short-term financing difficulties and consolidate its democratic mechanisms, will be debated on Wednesday and put to a vote on Thursday.
The EU financial aid will take the form of medium-term loans on favourable terms to supplement International Monetary Fund (IMF) loans. In return, Tunisia would pledge to deliver structural reforms.
Note to editors
Tunisia’s economy has been in serious difficulty since the 2011 Arab Spring revolution. In 2015, it was hit by terrorist attacks that disrupted tourist flows and exacerbated its already weak fiscal and balance of payments position. The growth forecast for 2016 is 0.5%, down from 3% in 2015. Unemployment rates are 20% for women, 28.6% for young university graduates and an overall average of 15%.
The EU has granted Tunisia €300 million financial aid in 2014. In August 2015 the Tunisian Government asked the EU to contribute €500 million to a second assistance programme, supplementing loans from the International Monetary Fund (IMF).
Following a European Parliament in 2016, the EU also granted Tunisia a temporary additional quota for duty-free olive oil imports.
Procedure: Co-decision (Ordinary Legislative Procedure)
Debate: Wednesday, 8 June
Vote: Thursday, 9 June