Posted by: Agence Tunis Afrique Presse

The amount of loans that will be granted to Tunisia by the Arab Monetary Fund (FMA) will reach, for the year 2018, more than $ 300 million (720 million dinars) said Director-General and Chairman of the Board of Directors of the Fund, Abdel Rahman El Hamidi.

He said in a statement Monday to TAP, on the sidelines of the holding of the “Africa Blockchain Summit”, organised by the Central Bank of Tunisia (BCT) in Tunis, that the FMA has signed during the annual meetings of the Arab financial institutions, held last month, in Jordan two loan agreements amounting to 130 million dollars (312 million dinars).

The two loans are part of an FMA-sponsored Arab trade finance programme that received a request last week from Tunisia for a $ 50 million loan (120 million dinars) after having requested a few weeks earlier another loan of $ 80 million (192 million dinars), knowing that the Fund has granted to Tunisia loans of more than $ 1 billion ($ 5.7 billion dinars), since its creation in 1976.

El Hamidi stressed that both loans are part of programmes to improve the business environment in Tunisia, especially for small and medium-sized enterprises (SMEs) to help them create jobs, identify new markets for the export of their services and access to financing.

The efficiency of these two loans will be assessed within a month as to the implementation of the legislative and regulatory framework, in addition to the modernisation of basic infrastructure, especially technological, he said.

He added that the Fund is collaborating with Tunisia in carrying out the project to strengthen the skills of official enterprises.

He said that the AMF has an institute of economic policies in charge of organising training sessions (no less than 30 sessions each year) to develop economic and financial skills as well as in the field of insurance.

Similarly, El Hamidi stressed that cooperation between Tunisia and the fund also concerns the development of technical cooperation at the request of the Tunisian authorities, in addition to the Arab trade financing programme through strengthening of intra-Arab trade between Tunisia and the rest of the Arab countries.

The Arab Monetary Fund is an Arab regional organisation whose operations began in 1977.

It aims at balancing the payments of the member countries and at eliminating the restrictions imposed between these countries and at improving the Arab monetary cooperation and promoting the development of the Arab financial markets which will facilitate the creation of the Arab single currency and strengthening of trade between the Arab member countries.