Tunisia- State acquires €257 million and $130 million from 12 local banks

The loan, part of which comes from the deposits of non-residents, will help finance the budgetary needs of the State to fight COVID-19, the Ministry of Finance said in a press release.

It will make it possible to cope with the repercussions of the declining economic activity, to concretize the exceptional measures put in place by the State, raise additional funds for the health sector, support companies affected by the general lockdown and preserve jobs, Finance Minister Mohamed Nizar Yaïche said at the signing ceremony.

The Minister stressed the importance of the role of Tunisian banks, especially their contribution to coping with the economic repercussions and alleviate the financial pressure on companies, within the framework of the committee for support and assistance to affected business.

That committee will start examining the companies’ files after the publication of the decree setting the criteria for granting aid.

Nizar Yaïche stressed the need to speed up the implementation of the guarantee mechanism and granting credits directly after its entry into force this week, with a total amount of loans of 1500 million dinars.

He also emphasised the need for the banks to prepare logistically and organisationally for the launch of the digital wallet which will enable social aid beneficiaries, via their mobile phones, to withdraw this sum from banks or ATMs.

A new mobile payment solution “digital wallet” has just been launched in Tunisia.

It allows every Tunisian to create his or her virtual wallet on his or her mobile, receive money and pay with ease, the Minister of Finance said on Tuesday.

The digital wallet will be used, from May 6, 2020, to distribute social aid via about 4000 points: postal agencies, bank branches and part of ATMs.