The loan is intended for the modernization of water infrastructure and the development of a strategy in this area in oases in the south of the country, the bank said in a statement.
“The funds will help to restore and rehabilitate the ageing water infrastructure serving 37 oases in the country’s southern governorates of Gabès, Gafsa, Kebili and Tozeur. The oases are the primary source of employment and income in the region, with irrigated agriculture providing jobs to 35 per cent of the working population,” the statement added.
“It will also address the depletion of non-renewable groundwater resources through the development of a long-term sustainable strategy to address the water scarcity in the region, as well as a training program for farmers to promote more sustainable agricultural practices and water management and identify alternative income sources.”
The EBRD, since the inception of its operation in the North African country in 2012, has invested more than €1.3 billion across 55 projects in the country, in both the private and public sectors.