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afrol News, 11 July - The African Development Bank (ADB) has approved under its private sector window, a line of credit of 30 million Euros to Banque de Tunisie (BT). This project was in keeping with the Support Programme to Competitiveness. The objective of the Programme is to establish a competitive economy, especially for the financial sector and information technologies. - The line of credit is consistent with the ADB operational strategy in Tunisia, which is centred on supporting enterprises modernisation and competitiveness as well as local capital market development, the African bank said in a statement yesterday. It would enable Banque de Tunisie to grant long-term loans "to finance economically viable and environmentally sound projects in productive sectors of the Tunisian economy, mainly industry and services, thus strengthening the dynamics of growth and contributing to poverty reduction." The proceeds of the line of credit were to serve to "purchase capital goods and supplies necessary to the creation, modernisation, extension and renovation of enterprises with a high growth and export potential," ADF said. By providing the Banque de Tunisie with this line of credit, the ADB would extend an additional contribution to the government's programme to modernise the banking system and reduce poverty in Tunisia. The projects to be financed under the line of credit was said to create about 1,000 job opportunities.
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