RIYADH: Saudi Fund for Development CEO Sultan bin Abdulrahman Al-Marshad signed a soft loan agreement worth $55 million with Tunisian Minister of Economy and Planning Feryel Ouerghi. The loan will finance the renewal and development of the railway network for phosphate transportation in Tunisia. Ouerghi expressed appreciation for the SFD’s efforts in monitoring the development projects it funds, which facilitates their completion and helps remove obstacles. Al-Marshad, for his part, emphasized the importance of the transportation sector in the development of countries aspiring to a prosperous future for their people. Since 1975, the SFD has provided financing to Tunisia, supporting the implementation of 35 development projects and programs through soft loans and generous grants totaling over $1.3 billion.

Source: Ethiopian News February 24, 2024 14:14 UTC