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HomeNewsAFESD grants Tunisia 285-million-dinar loans to boost development

AFESD grants Tunisia 285-million-dinar loans to boost development

The Arab Fund for Economic and Social Development (AFESD) Thursday granted Tunisia two loans to Tunisia: the first one, worth 210 million dinars and the second 75 million dinars.

The first loan allocated to the general authority for regional development is part of the program of integrated development worked out in Tunisia for an amount of 500 million dinars.

The loan is repayable over 22 years, including a 5 year-grace period. The aim of the integrated development program is to boost economic and social development in 90 regions through providing job opportunities for small farmers, small craftsmen, higher education and vocational training graduates. The point is also to increase production, develop infrastructure and improve public services (drinking water and sanitation network). The second loan will be allocated to the Tunisian solidarity bank to increase small private sector businesses over the period ranging from 2012 to 2014. This program which total cost is 545 MDT will provide necessary financing for existing or under setting-up private companies and ventures to generate additional jobs and increase the pace of production and exports of goods and services.

The loan, repayable over 22 years including a 5 year-grace period, bears an interest rate of 3% per year. Cooperation between Tunisia and the AFSED has consisted, up to last December 31, in the joint realization of 50 projects and the granting of 49 loans worth about 3.4 billion dinars. As regards donations and technical aid, they numbered 11 for or an amount of 22.1 million dinars, and involved the sectors of farming, tourism and vocational training.

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