The Saudi Fund for Improvement (SFD) Chief Govt Officer, H.E. Sultan Al-Marshad (www.SFD.gov.sa), signed a brand new growth mortgage settlement with the Minister of Financial system&Planning of the Republic of Tunisia, H.E. Feryel Ouerghi, by means of which SFD is contributing $55 million USD to finance the mission for renewing and creating the railway community for phosphate transportation in Tunisia.
The settlement was signed within the presence of the Minister of Transport of Tunisia, H.E. Rabie Elmajidi and the Ambassador of the Kingdom of Saudi Arabia to Tunisia, H.E. Dr. Abdulaziz bin Ali Al-Saqr, alongside officers from either side.
This settlement marks a major step ahead for bettering Tunisia’s infrastructure for transportation.
Particularly, the mission will assist renew roughly 190 km of the railway community, to assist growing the capability for transporting phosphate, and contribute in the direction of Tunisia’s financial development, by creating direct and oblique job alternatives, along with assuaging the burden on the street community and lowering site visitors congestion.
Complementing the efforts to assist Tunisia’s financial infrastructure, SFD’s CEO, alongside the Ambassador of Saudi Arabia to Tunisia, additionally inaugurated 270 housing items within the Zaghouan Governorate, with the Minister of Tools and Housing within the Republic of Tunisa, H.E. Sarah Zaafrani and the Governor of Zaghouan, H.E. Mohamed El Euch, as a part of the primary part of the Riyadh Housing Undertaking.
This mission will ship 4,715 housing items, and is being financed by the Fund by means of a delicate growth mortgage value over $150 million USD. It would additionally play a key position in serving to to lift the usual of residing for the inhabitants, by facilitating entry to housing and bettering folks’s lives. Different advantages embody the initiatives contributions in the direction of creating direct and oblique job alternatives, and selling socio-economic development and prosperity throughout numerous Tunisian areas.
Since 1975, SFD has financed 35 growth initiatives and applications in Tunisia, value over $1.3 billion USD, to assist the nation’s key developmental sectors, together with social infrastructure, transportation and communication, vitality, and rural growth.
Distributed by APO Group on behalf of Saudi Fund for Improvement.
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Concerning the Saudi Fund for Improvement:
The Saudi Fund for Improvement (SFD) is a authorities entity that gives delicate growth loans and grants to finance growth initiatives and applications in creating international locations.
Since 1975, SFD has financed over 800 growth initiatives value US$20 billion in over 100 international locations round world throughout numerous sectors equivalent to transportation and communications, social infrastructure, agriculture, vitality, business and mining, and others. The initiatives assist producing socio-economic growth and assist to enhance the residing requirements of deprived communities in international locations most in want. SFD’s actions are aligned with the worldwide growth rules and contribute in the direction of realizing the UN’s Sustainable Improvement Targets. Furthermore, it unifies its efforts in growth assist by means of partnerships and cooperation with regional and worldwide organizations. www.SFD.gov.sa
