Latest news with #OasisHubProject
Saudi Gazette
a day ago
- Business
- Saudi Gazette
SFD signs deal worth over $38 million to enhance infrastructure in Tunisia
Saudi Gazette report TUNIS — Saudi Fund for Development (SFD) Chief Executive Officer Sultan Al-Marshad signed on Saturday a new development loan agreement with Tunisian Minister of Economy and Planning Dr. Samir Abdelhafidh to finance the establishment of an Oasis Hub Project in southern Tunisia. The loan, exceeding $38 million, was signed in the presence of Saudi Ambassador to Tunisia Dr. Abdulaziz Al-Saqr. The agreement reflects the strong bilateral development partnership that has spanned nearly 50 years. 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 of 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. The 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 it began operations in Tunisia in 1975, SFD has financed 32 development projects and programs through concessional loans totaling more than $1.2 billion, in addition to grants provided by Saudi Arabia through SFD, amounting to over $105 million. Meanwhile, Tunisian Prime Minister Sarra Zaafrani Zenzri received Saudi Fund for Development (SFD) Chief Executive Officer Sultan Al-Marshad in Tunis on Saturday. The reception was also attended by Tunisian Minister of Economy and Planning Samir Abdelhafidh, Saudi Ambassador to Tunisia Dr. Abdulaziz Al-Saqr, and other officials. Zenzri and Al-Marshad reviewed ways to strengthen development cooperation between the two countries and highlighted the longstanding bilateral partnership that spans over five decades, particularly in financing key development projects in Tunisia. Al-Marshad also met with Tunisian Minister of Health Dr. Mustapha Ferjani in the presence of the Saudi ambassador. They discussed ongoing health projects funded by SFD and explored opportunities to support the Tunisian health sector. The meetings come as part of Al-Marshad's official visit to Tunisia, during which a development loan agreement worth over $38 million is scheduled to be signed with the Tunisian Ministry of Economy and Planning to support infrastructure projects in the country.
Arab News
a day ago
- Business
- Arab News
$38m Saudi loan to boost Tunisia's southern regions
Riyadh: Saudi Fund for Development CEO Sultan Al-Marshad signed a new development loan agreement with Tunisian Minister of Economy and Planning Samir Abdelhafidh to finance the Oasis Hub Project in southern Tunisia. The loan, exceeding $38 million, was signed in the presence of Saudi Ambassador to Tunisia Abdulaziz Al-Saqr. The agreement reflects a strong development partnership spanning nearly 50 years, the Saudi Press Agency reported. The Oasis Hub Project aims to support sustainable rural development by reclaiming more than 1,000 hectares of agricultural land across various Tunisian regions. It includes drilling and equipping 22 wells, expanding rural villages and infrastructure, and building more than 285 housing units for local residents. The agreement is part of the Saudi fund's ongoing efforts to promote sustainable development in Tunisia by financing infrastructure that improves living standards, creates jobs, and supports the Sustainable Development Goals. The project will enhance regional infrastructure through the construction of roads, pipelines, and water networks for drinking and irrigation. It will also support educational institutions, agricultural facilities, and cultural, social, and commercial centers. These efforts aim to improve quality of life and drive economic and social growth in Tunisia's southern governorates, the SPA reported. Since beginning operations in Tunisia in 1975, the Saudi fund has financed 32 development projects and programs through concessional loans totaling more than $1.2 billion, along with grants exceeding $105 million. On the sidelines of the signing, Al-Marshad met with Tunisian Prime Minister Sarra Zaafrani Zenzri in Tunis, joined by Abdelhafidh, Al-Saqr, and other officials. The meeting explored ways to strengthen development cooperation and highlighted the decades-long partnership, especially in financing key projects in Tunisia. Al-Marshad also met with Tunisian Minister of Health Dr. Mustapha Ferjani to discuss ongoing health projects funded by the Saudi fund and potential support for the Tunisian health sector.
