Last Updated: Fri Apr 20, 2012 07:12 am (KSA) 04:12 am (GMT)

Qatar lends Tunisia $500 million

Tunisia’s Central Bank finalized $500 million loan from Qatar. (Reuters)
Tunisia’s Central Bank finalized $500 million loan from Qatar. (Reuters)

Tunisia’s Central Bank said Thursday it had finalized a loan of half a billion dollars from Qatar, one of the main foreign backers of the revolution that brought the Islamists to power.

The central bank said in a statement that the loan ̶ at an interest rate of 2.5 percent ̶ was to be repaid all at once in five years.

The Ennahda party won October polls that capped a popular revolt that ousted longtime president Zine al-Abidine Ben Ali nine months earlier and sparked the so-called Arab Spring.

The moderate Islamist party has excellent relations with Qatar and the coalition government it leads was also recently extended a $500-million credit line by Turkey.

The government is due to submit its economic program to the constituent assembly, amid crippling unemployment and widespread disillusionment over post-revolution Tunisia.

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