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Saudi Arabia to give USD220m loan to Tunisia

15 Jul 2012

(MENAFN) Tunisia’s Investment and International Cooperation Ministry said that the Saudi Fund for Development (SFD) agreed to award Tunis USD220 million in low-interest loans, Reuters reported.

The ministry also said that the loan will be given in three portions; the first portion will be used to fund the development of a power station at Sousse.

The second portion will be used to invest in the transport of gas, while the third portion will be spent on vocational and other training.

The loans are repayable over 20 years at 2 percent interest, and loan agreements will be signed in the coming days, according to the state’s news agency TAP.

In its quest to recover from last years revolution, Tunisia has received several bilateral soft loans this year to help fulfill its target.

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