The Arab Fund for Economic and Social Development (AFESD) has granted Tunisia a loan of 148 million dinars (MD) for the construction of 32 bridges in 21 governorates.
The interest rate on the loan, signed by Minister of Development, Investment and International Co-operation Mohamed Fadhel Abdelkefi and the Fund’s Chief Executive Officer, Abdellatif Youssef Al Hamada, on Tuesday, amounted to 2.5%.
The loan will be repaid over a period of 30 years and Tunisia will begin reimbursement after a 5-year grace period, according to a statement of the Ministry of Development published on Tuesday.
Abdelkefi, who is currently participating in the annual joint meetings of the Arab financial institutions in Rabat (Morocco), said the project is part of the Government’s concern to modernize road infrastructure in the various governorates of the country, improve road traffic flow and give them greater economic dynamism.
For his part, Abdellatif Youssef Al Hamad reiterated the commitment of the fund to Tunisia and its support in carrying out development projects in the priority sectors in order to achieve the economic and social progress expected, said the same source.