| Project Detail |
Provision of up to EUR 90 million sovereign loan in favour of Compagnie des Phosphates de Gafsa (CPG or the Company), a state-owned mining company in Tunisia. The loan will finance the installation of filter presses (to increase water recovery from mine tailings) and related investments across the Companys processing facilities and the acquisition of modern mining equipment to support its phosphate mining operations. Project Objectives The phosphate sector has been one of the cornerstones of Tunisias economy, historically making a significant contribution to GDP and export value. However, the industry has faced challenges in recent years, leading to a decline in production. Moreover, phosphate production is water intensive and the Company would like to increase the levels of water recycling, especially given the water stress in the Gafsa region, where the Company operates. Overall, the Banks investment will contribute to the Companys efforts to improve production rates in a sustainable and environmentally responsible manner, hence contributing to resource sustainability, while also being aligned with Tunisias climate objectives. |
