Arab Fund for Economic & Social Development loans Tunisia $52m for road projects
The Arab Fund for Economic and Social Development has granted Tunisia $52 million (KWD16 million) in form of credit facility to be used for road projects.
The financing deal was signed during the 52nd annual meeting of the Board of Governors of the fund, held on the sidelines of the annual joint meetings of Arab financial institutions held in the Moroccan capital Rabat.
The credit will be used to build roads in Beja, Jendouba, le Kef and Nabeul, the Tunisian ministry of Economy said in a statement relayed by Webdo Tunis.
The fund also grants Tunisia around $1 million to be used to acquire medical equipment.
The high-level meetings of Arab financial institutions brought together ministers of finance, economy, and international cooperation from various Arab governments, as well as heads of Arab financial institutions.
The meetings are part of the annual gatherings of Arab financial institutions and organizations, which include the Arab Fund for Economic and Social Development, the Arab Investment and Export Credit Guarantee Corporation, the Arab Bank for Economic Development in Africa, the Arab Monetary Fund, and the Arab Authority for Agricultural Investment and Development.
