Tunisia signs up for $300m loan from Algeria

Algeria has granted a $300 million credit facility to Tunisia to help the North African country navigate economic distress.
The deal for the credit according to Tunisia’s national gazette, was signed on Dec. 09 during the visit of the Algerian Premier Aïmene Benabderrahmane.
The announcement of the deal came Tuesday, a day before visit of the Algerian President Abdelmajid Tebboune on Dec. 15-16, at the invitation of his Tunisian counterpart Kais Saied.
This visit, Saied’s office said, will be an opportunity to strengthen the historical ties of brotherhood between Tunisia and Algeria and to anchor the traditions of consultation and coordination between the leaders of both countries on regional and international issues of the day.
It will also be an opportunity to consolidate the relations of cooperation and partnership established between the two countries, the statement added.
Tunisia is going through deep economic crisis worsened by political uncertainty after Saied seized on July 25 the executive, judiciary and legislature power.
Saudi Arabia and Libya, Tunisie Numerique reported in November citing a source knowledgeable of the matter, are expected to provide Tunisia a loan of $500 million each attached with affordable interests to help the North African country to overcome economic woes amid the ongoing political crisis.