Tunisian state-utility Steg is set for a loan of up to €300mn ($327mn) from the European Bank for Reconstruction and Development (EBRD) to assist in “reforms and developing Tunisia’s electricity sector.” Steg has been crippled by unsustainable debt for years.

The EBRD says the loan will be used to “provide liquidity support to STEG as an immediate response to the current Covid-19 crisis” and “refinance existing short-term debt.” The general scope of the project includes “a reform roadmap, including measures to improve the company’s corporate governance, financial management, strategy & risk, renewable energy integration and procurement.” The EBRD has set the loan’s approval date for 24 June. (CONTINUED - 145 WORDS)