Arab Fund grants $162M to Tunisia

Published January 28th, 2016 - 08:41 GMT
The dam project will provide more irrigation water to the region of Cap Bon. (Wikimedia Commons)
The dam project will provide more irrigation water to the region of Cap Bon. (Wikimedia Commons)

Arab Fund for Economic and Social Development (AFESD) has signed two loan and technical support agreements worth MTD332 million ($162 million) for Tunisia, a report said.

The first loan, worth MTD330 earmarked to building two dams, one in El Kalaa and the second in the region of Saida, Finance Minister Slim Chaker was quoted as saying in the TAP report.

The two dams will be used to store part of waters from the far north and transfer them to treatment plants, the report said.

The project will help provide additional quantities of irrigation water in the region of Cap Bon as well as drinking water in the region, it added.

The Minister said the loan will be reimbursed over 22 years including a six-year grace period with a 3 per cent interest rate.

The second agreement involves support to the Tunisian government worth MTD2 million to be allocated to conduct a study in Beja for a pilot development and job-generating project, according to the report.



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