EU Grants Tunisia 250 Mln Euros to Tackle Coronavirus Impact

Business

March 29th, 11:17am

Asharq Al-Awsat

A woman wears a protective face mask as she walks in Tunis, Tunisia, on March 3, 2020. REUTERS/Zoubeir Souissi

The European Union has granted Tunisia 250 million euros in aid to help it cope with the economic and social effects of the coronavirus outbreak, EU ambassador Patrice Bergamini said on Saturday in a tweet. Tunisia, which suffers from limited health infrastructure, is fighting to contain the outbreak after it said it had 227 confirmed cases and six deaths. Prime Minister Elyes Fakhfakh said last week that the government was allocating $850 million to combat the economic and social effects of the health crisis. The International Monetary Fund will disburse $400 million to help the country face the effects of the crisis, finance minister Nizar Yaich has said. Tunisia now expects an economic recession, prompting the central bank this month to cut its key interest rate by 100 basis points from 7.75%. Fakhfakh has said the government cut its growth forecast this year to 1% from 2.7% in part due to coronavirus crisis.

from Asharq AL-awsat https://aawsat.com/english/home/article/2205661/eu-grants-tunisia-250-mln-euros-tackle-coronavirus-impact