TUNIS — On Saturday, Sultan Al-Marshad, the CEO of the Saudi Fund for Development (SFD), and Dr. Samir Abdelhafidh, the Minister of Economy and Planning of Tunisia, inked a new development loan agreement to fund the construction of an Oasis Hub Project in southern Tunisia. Dr. Abdulaziz Al-Saqr, the Saudi ambassador to Tunisia, was present when the loan, which totalled more than $38 million, was signed. The solid bilateral development relationship that has existed for almost 50 years is reflected in the agreement. By reclaiming almost 1,000 hectares of agricultural land in different parts of Tunisia, the Oasis Hub Project seeks to promote sustainable rural development.
22 wells will be drilled and equipped as part of the project, rural settlements and their infrastructure will be expanded, and more than 285 dwelling units will be built for local beneficiaries. Along with supporting the growth of educational institutions, agricultural facilities, and economic, social, and cultural hubs, the project will also improve the region’s infrastructure by constructing roads, pipelines, and networks for irrigation and potable water. Together, these initiatives seek to raise living standards and promote social and economic development in the southern governorates of Tunisia.
The deal is a component of SFD’s continuous endeavours to assist sustainable development in Tunisia by funding infrastructure initiatives that raise living standards, provide employment, and aid in the accomplishment of the Sustainable Development Goals (SDGs).
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