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The Africa Finance Corporation (AFC), a pan-African multilateral development finance institution, has provided 28 million dollars loan to Tunisia.
The President of AFC, Mr Andrew Alli, made this known in a statement to newsmen on Tuesday in Abuja.
He said that the facility was for the development of Halk El Menzel offshore oil concession block tagged “Helm Project” in Northern Tunisia.
He said that the loan had a 30-month tenor and would ensure the project reached first oil production by January, 2018.
Alli said that AFC had a long-standing commitment to building and developing African economies that required investment in key economic sectors.
“AFC is delighted to be investing in Tunisia’s natural resources sector and supporting the creation of high skilled jobs.
“Tunisia has made significant progress by embarking on reforms that will drive private-sector growth and encourage investment.
“AFC looks forward to continuing to support the country as it enters the next growth chapter,” he said.
The Helm Project is a low-cost development project covering an offshore area of 570 square kilometres in the gulf of Hammamet in northern Tunisia, a significant petroleum province.
The total estimated cost of the project is 157.5 million dollars. (NAN)
