Integrated Development Program (Third Phase) in Tunisia
A loan agreement for KD 50 Million was signed in the Dead Sea Area in the Hashemite Kingdom of Jordan on the 10th of April 2018 between the Government of the Republic of Tunisia and the Arab Fund for Economic and Social Development, in order to help finance the Third Phase of the Integrated Development Program.
The loan agreement was signed by H.E. Ziyad Al-Athari, Minister of Development, Investment and International Cooperation, on behalf of the Tunisian Government, and by H.E. Mr. Abdlatif Yousef Al-Hamad, Director General/Chairman of the Board of Directors of the Arab Fund, signed on behalf of the Fund.
The project aims at contributing to the reduction of unemployment, the alleviation of poverty, and the improvement of living and health conditions for the inhabitants of less developed regions in Tunisia, through the implementation of a number of projects. These projects will provide new job opportunities for small farmers, craftsmen, skilled professionals, and holders of higher education and vocational training degrees. The project also aims at increasing productivity, developing infrastructure and improving public utility services, in order to achieve balanced regional development and alleviate economic and social disparities among the inhabitants by stimulating economic activity and community development.
The project includes the following main components:
The loan will carry interest at 2.5% per annum and will be repayable over 30 years, including a 7 years grace period.
The Regional Development General Commissariat will be the beneficiary of the loan and will be responsible for the implementation of the project.
With the signing of this loan, the Arab Fundís total contribution to financing projects in the Republic of Tunisia amounts to KD 1036 million.