Saudi Fund For Development Delivers 270 New Homes In Tunisia

In a significant move to bolster housing and infrastructure in Tunisia, the Saudi Fund for Development (SFD) has made headlines with its latest contribution. On February 23, 2024, in Tunis, SFD Chief Executive Officer Sultan bin Abdulrahman Al-Marshad and Tunisian Minister of Equipment and Housing Sarah Al-Zaafarani announced the provision of 270 housing units in Zaghouan. This initiative marks the commencement of the Riyadh housing project's first phase, aiming to deliver a total of 4,715 housing units across various Tunisian regions.

The ceremony, graced by the presence of the Saudi Ambassador to Tunisia, Dr. Abdulaziz bin Ali Al-Saqr, and Zaghouan Governor Mohammed Al-Ash, underscored the collaborative efforts between Saudi Arabia and Tunisia. The Riyadh housing project, financed through a development soft loan exceeding $150 million from the SFD, is set to enhance living standards by facilitating access to housing. Moreover, it promises to generate both direct and indirect employment opportunities while fostering social and economic growth within Tunisia.

Further strengthening bilateral ties, Al-Marshad also inked a development soft-loan agreement with Tunisian Minister of Economy and Planning Feryel Ouerghi. Valued at $55 million, this agreement aims to finance the renovation and development of railways for phosphate transportation in Tunisia. This initiative not only highlights the SFD's commitment to supporting critical infrastructure projects but also underscores the strategic importance of enhancing Tunisia's phosphate industry.

Since 1975, the SFD has been a pivotal partner in Tunisia's development journey, financing 35 projects and programs through soft loans and grants totaling more than $1.3 billion. These funds have significantly contributed to improving social infrastructure, transportation networks, energy resources, and rural development across the country.

The ongoing collaboration between Saudi Arabia and Tunisia through these projects exemplifies a shared vision for progress and prosperity. By addressing key areas such as housing and infrastructure development, both nations are laying down solid foundations for sustainable growth and improved quality of life for their citizens.

The initiatives undertaken by the SFD in Tunisia are a testament to the enduring partnership between the two countries. As these projects unfold, they are set to make substantial impacts on Tunisia's social and economic landscape, driving forward mutual interests in development and cooperation.

With inputs from SPA