The Arab Fund for Economic and Social Development (AFESD) has entered into agreement with the Tunisia government that will see the fund provide US$160m for the construction of various roads and related facilities in the country. The partnership was signed by Tunisia’s Minister for Development and International Cooperation Mr. Mohamed Nouri Jouini.
According to the Kuwait Fund President, Abdellatif El Hamad, the fund will also ensure establishment of a new dam at the Qafsa district, North of Tunisia. The fund will also aid in construction projects in energy, electricity, higher education and other sectors.
AFESD is a key financial partner of the Tunisia government. In total, it has helped in the construction of projects in transport, energy, farming, water and highways sectors, all reaching a total worth of two billion Tunisian dinars.
The deal, however, is a loan to be repaid in 22-year period and Tunisia will have only five years of grace period.