Republic of Tunisia Becomes Africa Finance Corporation’s 34th Member State

TUNIS, Tunisia–(Company WIRE)–The Africa Finance Corporation (“AFC”) has welcomed Tunisia as its 34th member state. Tunisia’s accession brings the overall quantity of North African member states of the AFC to a few, with Morocco and Egypt turning into users in 2021, deepening the infrastructure provider’s engagement with a important gateway to Africa. Tunisia’s strategic geographic placement implies it is an significant transit route for pure gas exports from Africa to Europe.

AFC has been invested in Tunisia for some time to help the place to produce its vital economic sectors and assistance the creation of substantial competent positions. In 2017, AFC invested US$37 million in the improvement of the Halk El Menzel offshore oil concession block in Northern Tunisia. The venture has been specifically significant in giving the electrical power required for transportation, set up, start up and commissioning, 1st properly drilling such as acquisition of vital generation installations, floating storage and offloading models, maintenance, improve of the current buoy, source of topside facilities and completion of a wellhead platform. Extra not too long ago, AFC signed a Memorandum of Knowing in 2020 with the Tunisia Africa Organization Council aimed largely at opening up AFC funding to Tunisian corporations to permit for the growth of core infrastructure as a pillar for financial development in Tunisia and the relaxation of Africa.

Commenting on Tunisia’s accession, AFC President, and CEO, Samaila Zubairu said: “I am delighted to welcome the Republic of Tunisia as the most recent member of AFC. As AFC celebrates 15 decades of functions, we are committed to broadening our influence as the reputable and resilient bridge to a prosperous African long run by offering instrumental infrastructure that increases productivity and drives economic advancement and sustainable improvement. We glimpse ahead to supporting Tunisia to unlock its following period of advancement and work creation”.

Minister of Overall economy and Planning, Hon. Samir Saied also commented: “The government’s latest priorities are political steadiness, economic restoration and diversification, and sustainable development. Sizeable progress in plan reforms has been manufactured by the govt to encourage financial commitment in the place as we see non-public sector funding and aid to be pivotal in acquiring this aim. AFC’s observe history bodes well for us as we see the AFC as partners that would perform with us to supply on bankable infrastructure initiatives in sectors with high growth probable and terrific growth impact”.


Notes to Editors

About AFC

AFC was established in 2007 to be the catalyst for personal sector-led infrastructure financial commitment throughout Africa. It is the next optimum investment decision grade rated multilateral monetary establishment in Africa. AFC’s approach combines expert industry expertise with a target on financial and technological advisory, job structuring, project development and hazard cash to tackle Africa’s infrastructure growth needs and travel sustainable financial development. AFC invests in large-high-quality infrastructure belongings that provide essential solutions in the core infrastructure sectors of ability, organic resources, large marketplace, transportation, and telecommunications. To day, the Corporation has invested US$10 billion in jobs in 35 international locations across Africa.