The European Bank for Reconstruction and Development (EBRD) on 3 February announced approval of a €300mn ($360mn) “financing package” for Tunisia’s debt-ridden state power firm Steg. The loan was initially disclosed last year amid the worst of the Coronavirus pandemic (MEES, 22 May 2020), but its final approval had been delayed.

The loan is intended to “support the stability of Tunisia’s energy sector during the coronavirus pandemic in the medium term” and allow Steg “to implement an ambitious corporate and climate reform roadmap that would anchor the shift towards a more sustainable and efficiently run company,” the EBRD says. (CONTINUED - 197 WORDS)