a day ago
Saudi Fund for Development signs development loan agreement to enhance infrastructure sector in Tunisia
Tunisia: The Chief Executive Officer of the Saudi Fund for Development (SFD), H.E. Sultan Al-Marshad, signed today a new development loan agreement with H.E. Dr. Samir Abdelhafidh, Minister of Economy and Planning of the Republic of Tunisia, to finance the establishment of an Oasis Hub Project in southern Tunisia. The loan, exceeding USD 38 million, was signed in the presence of H.E. Dr. Abdulaziz bin Ali Al-Saqr, Ambassador of the Kingdom of Saudi Arabia to Tunisia. This agreement reflects the strong development partnership that has spanned nearly 50 years between the two sides.
The Oasis Hub Project aims to support sustainable rural development through the reclamation of more than 1,000 hectares of agricultural land across various regions in Tunisia. The project includes the drilling and equipping of 22 wells, the expansion of rural villages and their infrastructure, and the construction of over 285 housing units for local beneficiaries.
Additionally, the project will enhance the region's infrastructure by building roads, pipelines, and networks for potable and irrigation water, while also supporting the development of educational institutions, agricultural facilities, and cultural, social, and commercial centers. These efforts collectively aim to improve the quality of life and stimulate economic and social growth in Tunisia's southern governorates.
This agreement is part of SFD's ongoing efforts to promote sustainable development in Tunisia by financing infrastructure projects that contribute to improving living standards, creating job opportunities, and supporting the achievement of the Sustainable Development Goals (SDGs).
Since the inception of its operations in Tunisia in 1975, SFD has financed 32 development projects and programs, through concessional loans totaling more than USD 1.2 billion, in addition to grants provided by the Kingdom of Saudi Arabia through SFD amounting to over USD 105 million.
