AFESD provides 400-MD loan to fund 3rd part of Integrated Development Programme | Tunisia News Gazette

AFESD provides 400-MD loan to fund 3rd part of Integrated Development Programme

A loan agreement was signed on Tuesday between Tunisia and the Arab Fund for Economic and Social Development (AFESD) at the annual meetings of the Arab financial institution held from April 10 to 11.

The loan, worth 400 million dinars, will contribute to financing the third tranche of the Integrated Development Programme (IDP).

It is repayable over 30 years, including 7 years of grace with an interest rate of 2.5%.

The IDP, whose overall cost is of the order of 1000 million dinars, will benefit 100 delegations in all the country’s governorates.

It aims to create a local economic dynamic, to increase job creation in regions concerned and to improve the quality of life there.

It will support the creation of individual productive projects and provide the necessary training in the sectors of agriculture and crafts, in addition to supporting infrastructure projects and community facilities.

Minister of Development, Investment and International Co-operation Zied Ladhari stressed that “the AFESD is one of the main partners of Tunisia in the implementation of its development programmes in the fields of infrastructure, human development and regional development”.

For his part, AFESD Director-General and Board Chairman Abdellatif Youssef el-Hamad reiterated the commitment of the Fund to continue supporting Tunisia in the implementation of its economic and social development projects.

Source: TAP News Agency

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