Built to inform

Sign up for the daily newsletters

No, Thank you

Kuwait to fund $98m road rehabilitation in Tunisia

Kuwait's loan is part of a $500m package it pledged at the Tunisia 2020 conference in 2016

Kuwait has agreed to finance the refurbishment of road linking some 22 Tunisian provinces in a deal worth $98.4m (KD30m) [representational image].
ITP Images
Kuwait has agreed to finance the refurbishment of road linking some 22 Tunisian provinces in a deal worth $98.4m (KD30m) [representational image].

Kuwait has agreed to fund the rehabilation of hundreds of kilometres of roads that link 22 provinces across the Tunisian countryside.

As reported by Kuwait News Agency (Kuna), Kuwait Fund for Arab Economic Development (KFEAD) signed the $98.4m (KWD30m) loan deal, which comes as part of a $500m (KWD152m) support and assistance package Kuwait pledged at a conference in Tunisia in late 2016.

Speaking after the signing ceremony, Abdulwahab Al-Bader, KFEAD's director general, said the project would “have a positive impact on the economic and social levels for many Tunisians”.

READ: Kuwait signs $80m contracts for five healthcare projects in Tunisia

Farmers in particular will benefit from the rehabilitated roads, which could provide for the transport of their produce, added Zied Ladhari, Tunisia’s Minister of Development, Investment, and International Cooperation, as reported by Kuna.

The minister reportedly “praised the Kuwaiti government fund’s contributions to Tunisia over the past decades, including some 36 projects in vital sectors such as drinking water, irrigation, dams, rural and industrial land development, healthcare, and education”.

READ: Dubai’s Draw Link completes design work for Tunisia hotel

The news underscores the close commercial ties shared between Kuwait and Tunisia, particularly through KFEAD.

Last November, the fund signed a loan agreement worth $79.4m (KWD24m) to build four hospitals across Tunisia. Al Bader said the loan and grant were provided as part of the support programme announced by Kuwait during the Tunisia 2020 conference, held in 2016.

Most popular

Awards

Dubai's JW Marriott Marquis Hotel to host CW Awards 2019
15th edition of the CW Awards will be held at the five-star Dubai hotel to

Conferences

Leaders UAE 2019: Saudi Arabia ‘disrupting’ UAE talent pool
EXCLUSIVE: Leaders UAE 2019 panel agrees the UAE's and the GCC's construction firms must do
Leaders UAE 2019: Eng Anwaar Al Shimmari explains AI adoption
EXCLUSIVE: UAE Ministry of Infrastructure Development's chief innovation officer explains how and why AI adoption

Latest Issue

Construction Week - Issue 749
Sep 15, 2019