IDB TO SUPPORT TUNISIA WITH 1.5 BLN USD TO FINANCE PUBLIC INVESTMENTS | Tunisia News Gazette

IDB TO SUPPORT TUNISIA WITH 1.5 BLN USD TO FINANCE PUBLIC INVESTMENTS

TUNIS– The Islamic Development Bank group (IDB) will provide Tunisia with 1.5 billion US dollars in the financing of public investments, says the Tunisian Minister of Development, Investment and International Co-operation, Zied Laadhari.

He made the announcement here Monday at the 43rd annual meeting of the IDB group which will continue here until Thursday. The Tunisian minister, who chaired the board of governors, revealed that Tunisia will soon sign a partnership contract with the IDB Group covering the next five years.

About 57 ministers of finance from the IDB Group member countries are participating in the meetings, which are also attended by 60 official delegations and more than 1,000 participants, including experts, investors and global economic players.

“Since 2011, IDB financing in development projects in Tunisia has reached 2.17 billion Tunisian dinars (about 902 million USD),” said Laadhari.

The IDB has already agreed the creation of a STI (Science, Technology and Innovation) fund, with a value of 500 million USD, to support start-ups as well as emerging Tunisian companies in this sector.

“The group’s global financing for the country exceeds 3.2 billion dollars, mainly in electricity with six projects and an envelope of 756 million dollars, in addition to 1.1 billion dollars in insured businesses,” said IDB Group President Bandar Hajjar.

Hajjar said Tunisia has just received IDB approval to finance a number of development projects in some of the country’s inland provinces, including construction of hospitals and transmission of electricity.

Hajjar further assured Tunisia of help in addressing major challenges and obstacles to achieve economic and social prosperity.

Source: NAM NEWS NETWORK

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