African Development Bank awards $129 million loan to Tunisian road project
The African Development Bank (ADB) signed an agreement with the government of Tunisia last month for a €143.4 million ($129.2 million) loan to finance the third phase of a road network development project, stated a press release.
The project aims to improve the capacity of the classified road network in order to reduce width constraints and the structural condition of paved classified roads. It also seeks to eliminate any bottlenecks in order to reduce transportation costs and promote exchanges between the various regions concerned.
The project will involve the rehabilitation and widening to 7.2 meters or more of 475 kilometers of road of the network. It will also entail the reinforcement of 640 kilometers of roads as well as the construction of 21 structures of adequate clearance to replace the existing unsafe bridges on the classified road network.
The project will contribute to economic growth and the achievement of the objectives of competitiveness of the Tunisia's external trade through the use of an effective and quality transport system.
ADB was established in 1968 and has commitments in Tunisia worth $3.66 billion, invested into 70 operations with disbursements of $2.4 billion. The new line of credit is the Bank's first venture into Tunisia’s private sector. — (menareport.com)
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