Central Bank of Tunisia Circular No. 2019-11 dated October 18, 2019

Tunis, October 18, 2019
CIRCULAR TO BANKS NO. 2019-11
OBJECT: Revision of the rates and deadlines for aquaculture loans.

The Governor of the Central Bank of Tunisia,
Having regard to Law No. 2016-35 of April 25, 2016 establishing the status of the Central Bank of Tunisia and in particular Article 42 thereof, Having regard to Law No. 2016-48 of July 11, 2016 on banks and financial institutions and in particular Article 66 thereof, Having regard to Circular No. 87-47 of the Central Bank of Tunisia dated December 23, 1987 on the terms for granting, monitoring and refinancing loans, as amended and supplemented by subsequent texts, Having regard to the opinion of the Compliance Control Committee No. 10-2019 dated October 10, 2019, as provided for in Article 42 of Law No. 2016-35 and in particular its second paragraph regarding circulars of an urgent nature.

Decides:
Article 1 - The provisions of the second paragraph of Article 23-ter of the aforementioned Circular No. 87-47 are repealed and replaced as follows:
Article 23-ter (new second paragraph) - This loan must be disbursed in accordance with Annex 4-ter of this Circular, which sets out the list of aquaculture activities that may be financed.

Article 2 - The provisions of paragraph "j" regarding the rates for aquaculture loans set out in Annex I to the aforementioned Circular No. 87-47, concerning the rates and repayment deadlines for seasonal crop loans, are amended as follows:

• This rate constitutes a ceiling. The loan amount disbursed must be adjusted according to the expenses to be incurred and the yields achieved.

THE GOVERNOR
Marouane EL ABASSI

Speculation	Project production capacity	Intervention rate (In Thousands of dinars)*	Deadline (In months)
j/ Aquaculture
* Tilapia farming 10 tonnes	- Purchase of fry 9 12
	- Farming and insurance costs 26 12
* Sea bass and sea bream hatchery with pre-growing unit for 5 g fry	20 million fry	- Farming and insurance costs 6300 12

ANNEX NO. 4-TER TO THE CIRCULAR OF THE CENTRAL BANK OF TUNISIA NO. 2019-11 DATED October 18, 2019
RATES AND DEADLINES FOR MEDIUM-TERM LOANS FINANCING AQUACULTURE

• This rate constitutes a ceiling. The loan amount disbursed must be adjusted according to the expenses to be incurred and the yields achieved.

Speculation	Project production capacity	Intervention rate (In Thousands of dinars)*	Deadline (In months)
 Sea bass and sea bream farming in cages	1000 tonnes	 Purchase of fry 2100 24
	 Farming and insurance costs 6600 24
 Shellfish farming 100 tonnes	- Oyster	 Purchase of fry 46 24
	 Farming and insurance costs 157 24
- Mussel	 Purchase of fry 7 24
	 Farming and insurance costs 153 24
- Clam	 Purchase of fry 117 24
	 Farming and insurance costs 151 24