Saudi Arabia has decided to provide Tunisia with a concessional loan and a grant worth $500 million under the directives of King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman.
The Saudi Minister of Finance, Mohammed bin Abdullah Al-Jadaan, and his Tunisian counterpart, Sihem Boughdiri, signed the financing agreement in Tunis.
The deal covers the provision of a concessional loan amounting to $400 million and a memorandum of understanding for a grant worth $100 million, as reported by the Saudi Press Agency (SPA).
Al-Jadaan stated that the grant reaffirms the depth and strength of the fraternal relations between the leaderships of Saudi Arabia and Tunisia.
He highlighted Saudi Arabia’s diligent efforts and leading role in supporting Arab and Islamic countries in their developmental and economic endeavors.
“This support directly contributes to opening new financial channels for Tunisia from friendly and sisterly countries, as well as regional and international financial institutions,” he added.
The loan and grant from Saudi Arabia are expected to provide Tunisia with a significant boost to its economy, enabling the country to pursue development projects and strengthen its financial stability.
