AfDB approves Euros 122-million loan for Tunisia | Tunisia News Gazette

AfDB approves Euros 122-million loan for Tunisia

The Board of the African Development Bank Group (AfDB) has approved a loan of Euros 112 million (358,691 million dinars) to help finance the North-East Road Connectivity Support Project in Tunisia, the Bank said in a statement Wednesday.

The project aims to make the Tunisian economy more competitive through supporting the growing demand for the traffic of goods and people in Bizerte as well as better mobility and improved connections between the northern and eastern regions of the country.

It is in line with three of the AfDB’s High 5 strategic priorities and also fits into the Strategic Plan for Tunisia for 2016-21.

This project will further improve the mobility of people and goods in Bizerte and Beja, as well as in Jendouba, said Mohamed El Azizi, the AfDB’s director general for North Africa, when the Board of the Bank approved the project.

He added that: in due course, the port of Bizerte is expected to become the premier port in Tunisia, so strengthening the competitiveness of the country’s economy.

The total cost of the project is Euros 277.29 million (i.e. 815.49 million dinars) with the European Investment Bank lending Euros 123 million and the Government of Tunisia contributing Euros 32.29 million.

The same source said the AfDB Board had in June 2017 approved the Country Strategy Paper for 2017-2021, which sets out the context and the strategic framework for AfDB’s interventions in Tunisia.

The Bank’s interventions revolve around two pillars: strengthening industry and value chains, and improving the quality of life in prioritised governorates.

Source: TAP News Agency

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