The United States today announced its intent to provide a sovereign loan guarantee to Tunisia, enabling the Tunisian government to raise approximately $500 million from international capital markets at favorable rates. This guarantee reinforces the United States' firm commitment to the people of Tunisia by strengthening the Tunisian Republic's ability to maintain access to international financing during its transition, while bolstering Tunisia's ability to implement economic reforms and lay the groundwork for broad-based, economic growth.
This will be the second sovereign loan guarantee the United States has provided to Tunisia. The United States backed a $485 million loan guarantee in 2012.
The U.S. government is committed to supporting Tunisia's efforts to provide critical services to its citizens as it enacts economic reforms to increase the nation's macroeconomic stability. This loan guarantee also reinforces Tunisia's work with other donors, including the International Monetary Fund (IMF), to implement its economic reform agenda.
Today, in advance of the announcement, Secretary Jacob J. Lew met with Tunisian Prime Minister Mehdi Jomaa.
"We are encouraged by the progress the Tunisian government is making with regard to its political transition, and with the work underway to implement the tough but critical economic reforms that will lay the groundwork for increased investment and job creation," said Secretary Lew. "Economic stability is key to political stability. This loan guarantee will complement the efforts of the Tunisian government to provide economic opportunities for the people of Tunisia, and will be important to the region. We are pleased to be partners in this effort."