Summary:

On 26 November 2024, the Minister of Industry, Mining, and Energies signed a Memorandum of Understanding (MoU) with the European Bank for Reconstruction and Development (EBRD) aimed at supporting the production of phosphate and its derivatives

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The signing took place during a meeting between the Minister and the new Executive Director of the South-East Mediterranean region of the EBRD, Mark Davis, along with Taz Aldaoud, the Managing Director of PhosCo, an Australian mining firm set to lead exploration and production operations.  

The EBRD delegation met with Prime Minister Kamel Madouri a day prior, when it praised the climate of trust that prevails between the two parties, stressing the continuation of support for national projects in sectors of phosphate, energy transformation, water, land and rail transport, and infrastructure projects. 

The EBRD also reiterated its support for small and medium enterprises to finance their investments to ensure their sustainability. 

Outlook: 

The agreement between the Tunisian government, PhosCo, and the EBRD to support national projects may boost confidence in the Tunisian business climate and improve Tunisia’s attractiveness in the eyes of other foreign investors. 

The energy and phosphate sectors remain the main domains that Tunisia seeks to develop with the solicitation of international partners’ support. 

The phosphate sector has already been the subject of financing and investment deals with Saudi Arabia and China this year in addition to talks for cooperation with other countries like Indonesia. 

These efforts reflect the importance of the minerals and energy sectors for the Tunisian administration’s strategy to stabilize the economy by capitalizing on demand for these products globally.  

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