Economic development and social dialogue

The European Bank for Reconstruction and Development (EBRD) has granted a €150.5 million sovereign guaranteed loan to the Office des céréales (ODC). The loan is intended to finance the import of 15% of Tunisia’s annual wheat consumption needs.

In a statement, the EBRD said it had “signed a €150.5 million sovereign guarantee loan with ODC to finance imports of soft wheat, durum wheat, and barley,” explaining that “the war in Ukraine has severely reduced the country’s capacity to export grain, caused disruptions in global grain supplies, and a surge in world commodity prices, which have directly affected southern and eastern Mediterranean countries, some of which are among the world’s top grain importers.”

It is worth noting that EBRD has invested more than €1.5 billion in Tunisia since it began operations in 2012.