SFD Signs $38 Million Agreement To Boost Infrastructure And Rural Development In Tunisia

The Saudi Fund for Development (SFD) has entered into a new development loan agreement with Tunisia. Sultan Al-Marshad, SFD's Chief Executive, signed the deal with Dr. Samir Abdelhafidh, Tunisia's Minister of Economy and Planning. The agreement, valued at over $38 million, was witnessed by Saudi Ambassador to Tunisia Dr. Abdulaziz bin Ali Al-Saqr. This initiative aims to establish an Oasis Hub Project in southern Tunisia.

The Oasis Hub Project is designed to foster sustainable rural development in Tunisia. It plans to reclaim more than 1,000 hectares of agricultural land across various regions. The project will involve drilling and equipping 22 wells and expanding rural villages and their infrastructure. Additionally, over 285 housing units will be constructed for local beneficiaries.

Infrastructure improvements are a significant component of the Oasis Hub Project. Roads, pipelines, and networks for potable and irrigation water will be built to enhance the region's infrastructure. These developments aim to improve living standards and stimulate economic growth in southern Tunisia.

In addition to infrastructure, the project will support educational institutions and agricultural facilities. Cultural, social, and commercial centers will also be developed as part of this initiative. These efforts collectively aim to boost the quality of life in Tunisia's southern governorates.

This agreement is part of SFD's ongoing commitment to promoting sustainable development in Tunisia. By financing infrastructure projects, SFD aims to improve living standards and create job opportunities. The initiative aligns with the Sustainable Development Goals (SDGs) by supporting economic and social growth.

SFD has been active in Tunisia since 1975, financing 32 development projects through concessional loans totaling over $1.2 billion. Additionally, grants provided by Saudi Arabia through SFD have amounted to more than $105 million.

With inputs from SPA