- €92 million in new financing for 2023 focuses on school construction and support for micro-entrepreneurs, in coordination with the European Commission.
- 2023 saw a 47% increase in disbursements to €172 million with the goal of speeding up project implementation.
- Expertise has been deployed in the water and wastewater, transport and electrical grid sectors.
The development arm of the European Investment Bank (EIB) — EIB Global — has held a press conference to confirm its ongoing commitment to Tunisia. €92 million of new financing was granted in 2023, and there was an almost 50% increase in disbursements to projects promoting sustainable, resilient and inclusive economic growth to benefit all Tunisians. The EU bank is also providing technical expertise and sector support — including via EU support funds — in the water and wastewater, transport and electrical grid sectors.
“Supporting resilient and inclusive economies is at the very heart of what we do at the EIB. We continued to play a proactive role in Tunisia in 2023, allocating €92 million to the construction of innovative educational facilities and vital support for micro-entrepreneurs. These are key initiatives for the sustainable development of the country, and we are determined to maintain and expand this backing in 2024,” said EIB Vice-President Nicola Beer. “The ongoing support of the European Union is also enabling us to widen the provision of our expertise in important sectors such as water, transport and energy. By doing this, we will help build a more prosperous future for Tunisia and its people.”
A €40 million finance contract for the construction of 80 modern primary schools was signed on the sidelines of the EIB MED Conference in July 2023. This builds on efforts to combat early school leaving and promote fair and good quality education. Working with Tunisia's Ministry of Education, this project aims to improve learning conditions for 14 500 pupils, incorporating sustainable construction principles and the use of solar panels. The project is also receiving a €25 million EU grant, demonstrating a joint commitment to ensuring a bright future for Tunisian young people.
The EIB granted a €12 million loan to ENDA Tamweel to back micro-entrepreneurs, with a focus on the financial inclusion of women and young people. This financing brings the Bank’s total investment in ENDA to €36 million, constituting a strong commitment to financial inclusion as part of economic progress and as a tool delivering major social impact.
2023 saw a 47% increase in disbursements for crucial development projects, totalling €172 million (vs. €117 million in 2022). The upward trajectory of disbursements reflects intensified commitment to technical assistance under the Economic Resilience Initiative, enabling funds to be used quickly and effectively.
In 2023, the EIB provided vital technical assistance in the water, transport and energy sectors. This partnership made it possible to provide €1.2 million to the Office National de l'Assainissement (ONAS) to improve wastewater infrastructure, a major step towards better water treatment services. In transport, Société Nationale des Chemins de Fer Tunisiens (SNCFT) received €1 million in financing for rail electrification and the promotion of cleaner mobility solutions. Elsewhere, a pioneering pumped-storage electricity project benefited from €1.5 million in financial support, highlighting EU and EIB commitment to encouraging uptake of innovative and sustainable energy technologies.
“More than ever before, the EIB sees itself as a trusted partner of Tunisia and is taking action to address the challenges facing the country, such as food security, energy independence, education for as many people as possible and travel between governorates. Support for entrepreneurs is another of our priorities. The Tunisian economy will only recover with investment in sustainable and resilient infrastructure and with private sector mobilisation wherever possible,” added Head of the EIB Representation to Tunisia Jean-Luc Revéreault.
Background information
In Tunisia, the EIB finances projects with high economic and social impact in strategic sectors such as education, urban development, transport and energy.
EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance. It is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.