IDB loans Tunisian Electricity and Gas Company 33.40 million euros
PANA

The Islamic Development Bank (IDB) on Friday loaned the Tunisian Electricity and Gas Company (TEGC) 33.40 million euros to fund a natur a l gas project in the Gafsa region, official sources in Tunis said.

The agreement was signed by the Tunisian Minister for Development and Internatio nal Cooperation, Mohamed Nouri Jouini, the Chief Executive Officer of the TEGC, O thman Ben Arfa and the Vice-President of IDB, Birma Boubaker Sidebe, who is curr e ntly visiting Tunisia.

The project will help build a 175-kilometre long gas pipeline and natural gas supplying the mining pool of the Gafsa cement works and the cities of the region .

The loan guaranteed by the Tunisian state is refundable over a 20-year period with a 5.1% fixed interest rate.

This is the fifth loan extended by IDB to the TEGC with a total of over US$460 m illion.

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