The Board of Directors of the African Development Bank (AfDB) recently issued a favourable opinion on a loan application from the Tunisian Electricity and Gas Corporation (Steg). 108 million of this amount represents an AfDB loan and €30 million has been obtained from the Africa Growing Together Fund (AGTF). The €138 million allocated to Steg is intended to finance the implementation of the Project to develop and equip the electricity transmission network (Paerte). The last part of the project concerns the construction of a 225 kV substation at Laroussia. In addition to its equity capital (€31 million) and the AfDB loan (€138 million), Steg also plans to rely on €121 million in financing from the Islamic Development Bank (IDB).

Source: The North Africa Journal October 19, 2019 09:00 UTC