Turkey lends Tunisia $ 500 million

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Turkey lends Tunisia $ 500 million
Monday, January 23, 2012 – 22:05

Tunisian President equitable Marzouqi
TUNIS (Reuters)

Said the official Tunisian news agency today, Monday, Tunisia, Turkey will be given a loan of $ 500 million to help its economy recover from the effects of the revolution that toppled a year ago.

It was agreed that the loan will be repaid over a period of ten years and today’s low interest during the visit of the Turkish Economy Minister Zafar Jagelean to Tunisia. The two countries also signed memoranda of understanding on the establishment of a free trade zone and trade of agricultural products.

This agreement allows Tunisia to increase its share of exports of dates exempted from customs duties to Turkey to cover five thousand tons per year.

The Jagelean who chaired a delegation of Turkish business people “Turkey is determined to support Tunisia’s economy through investments.”

The officials said that Tunisia needed loans worth almost five billion dollars this year to save the economy out of recession and unemployment, which rose to more than 18%.