Tunisia To Get $220m From Saudi Development Fund

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VENTURES AFRICA – As Tunisia seeks to recover from last year’s revolution, the nation is set to get about $220 million from the Saudi Fund for Development in low-interest loans; as disclosed by Tunisia’s Investment and International Cooperation Ministry.

The ministry said three loans will be obtained – one for the development of a power station at Sousse, another to invest in the transport of gas, while the last will be for vocational and other forms of training.

Tunisia has agreed to repay the loans over 20 years at 2 percent interest, and the agreements will be signed in the coming days, an official statement stated.

While Saudi Arabia is offering financial aid to Tunisia, it continues to give shelter to Ben Ali and had refused to extradite him to stand trial in Tunisia.