The World Bank has granted Tunisia a loan worth of USD 151 million to sustain and fund the country’s effort in expanding energy resources and the production of electricity at more reduced costs.
The initiative comes in order to aid the Tunisian Company of Electricity and Gas in supporting the electricity power grids. Moreover, the aid package will minimize the Tunisian Company of Electricity and Gas use of imported fossil fuels and attract more investments in the field of renewable energ .Tunisia will thus be able to succeed in its ambition to build a greener energy sector and improve the commercial performance of STEG.
In a official statement to “Tunis Afrique Presse,”Tunisia’s World Bank Resident Representative Tony Verheijen stated that the excessive use of fossil fuels threatened the country’s energy security and its local economy.Mr. Verheijen properly considered the funded project to be crucial to make the renewable energy sector more environmentally friendly and more sustainable.
Previously ,Tunisia was able to properly secure two loan agreements, valued at USD175 million, with the World Bank (WB) as it looks keenly to adequately fund its digital transition programs.
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