Tunisia Approves DT400 Million Loan to up Employment and Public Services

Published January 10th, 2019 - 08:00 GMT
This loan with a fixed interest rate of 2.5%, will be repaid over 30 years with a five-year grace period. (Shutterstock)
This loan with a fixed interest rate of 2.5%, will be repaid over 30 years with a five-year grace period. (Shutterstock)

 The House of People’s Representatives (HPR) approved on Wednesday at a plenary session a 400-million-dinar loan agreement granted by the Arab Fund for Economic and Social Development (FADES) for the co-funding of the Integrated Development Programme (3rd phase).

This draft loan agreement aimed to offer new job opportunities to higher-education graduates, small farmers and professionals and to improve the public services in 100 delegations across the country, was passed by 110 votes for, 8 against and 11 abstentions.

This loan with a fixed interest rate of 2.5%, will be repaid over 30 years with a five-year grace period.

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The total cost of the achievement of the 3rd tranche of the programme is estimated at 1 billion dinars divided as follows: 700MD under the form of funding for the State budget, including 400MD through a loan granted by the FADES and 300MD from funding sources such as the Agricultural and Fisheries Development Fund, the Tunisian Solidarity Bank, the National Agricultural Bank and the Small- and Medium-sized Enterprises Financing Bank, in addition to development associations.

The third tranche of the integrated development programme includes the creation of 12,400 individual projects in the agriculture, small businesses and handicrafts sectors, the training of 8,700 recipients in the various activity fields, the creation of 3,200ha of irrigated perimetre, the establishment of industrial zones over a 7ha area and the building of 5 remote working centres.

This programme also aims to rehabilitation and asphalting of 640km of agricultural roads, the asphalting of 340 urban roads and the installation of a 75km sanitation network and the building of 20 constructions in the cultural sector and 20 others in the childhood sector.


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