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FINANCIAL NEWS
Tunisia receives $120m loan from AFESD
21 Jul 2010
(MENAFN) The Tunisian government has signed a loan agreement worth $120 million with the Kuwait-based Arab Fund for Economic and Social Development (AFESD) to help finance the enlargement of a power plant, Kuna reported.
The $390 million project aims at developing capabilities in the field of electricity output and tackling the increase in demand through a second enlargement for Sousse power station.
The agreement was signed by Tunisian Miniter of Development Muhammed Al-Nouri Al-Jouini and AFESD Director General Abdullatif Al-Hamad.
AFESD which is an Arab financial regional body headquartered in the State of Kuwait and it is a model of Arab economic cooperation and integration as it epitomizes the joint Arab action through financing public and private investment projects and offering technical aid and expertise.
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