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European Union disburses 300 million euro loan to Tunisia

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The European Union said on Wednesday it had disbursed a 300 million euro ($319.74 million) loan to Tunisia, at a time when the North African country is struggling with a financial crisis.

This is the first significant Western financial aid to Tunisia since President Kais Saied took control last summer, dissolved parliament and started ruling by decree in a move described by the opposition as a coup.

Saied has replaced a judicial council that guaranteed judges' independence as well as the independent electoral commission, casting doubt on the integrity of both the legal process and of elections.

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The EU said in a statement that the loan will help Tunisia to reduce the burden on the budget and implement major reforms.

Tunisia’s Western allies require an inclusive political dialogue and the rapid return of democratic institutions to support Tunisia.

The EU said that this macro-financial assistance is to “support the Tunisian people.”

“The EU remains determined to support Tunisia on the path to economic reform and full respect for the democratic gains and this includes an inclusive political transition,” it added.

Read more:

Tunisian parties vow to fight President Saied’s ‘autocratic rule’

Tunisia hopes to start official talks in coming weeks with IMF for $4 bln loan

Tunisia’s President Saied excludes parties from preparing new constitution

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