Saudi Fund for Development, Tunisia sign $55m loan agreement to support transport sector

Saudi Ambassador to Tunisia Abdulaziz bin Ali Al-Saqr, Tunisian Minister of Transport Rabie El-Majidi and officials from both sides attended the signing ceremony. (SPA)
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Updated 24 February 2024
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Saudi Fund for Development, Tunisia sign $55m loan agreement to support transport sector

  • The financing aims to renew about 190 km of the railway network, enhancing the capacity for phosphate transportation and contributing to Tunisia’s economic growth

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.

Tunisian Minister of Transport Rabie El-Majidi, Saudi Ambassador to Tunisia Abdulaziz bin Ali Al-Saqr, and officials from both sides attended the signing ceremony.

The financing aims to renew about 190 km of the railway network, enhancing the capacity for phosphate transportation and contributing to Tunisia’s economic growth.

The agreement will also create direct and indirect job opportunities while reducing traffic congestion.

Ouerghi expressed appreciation for the SFD’s efforts in monitoring the development projects it funds, which facilitates their completion and helps remove obstacles.

She also commended the SFD’s role in achieving the projects’ desired results and opening promising prospects for cooperation for new initiatives.

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.

“This sector contributes to the growth of vital opportunities toward sustainable development, leading to societal well-being and progress,” he noted.

He underscored the SDF’s belief that the transportation sector in Tunisia is key in supporting social and economic development in the country, expressing hope that this agreement would serve as an additional contribution to this end.

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.

These funds have been allocated to sectors including social infrastructure, transportation, energy, and rural development.

 


Northern Borders rock art reveals ancient life

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Northern Borders rock art reveals ancient life

  • Among the most notable remains are stone structures scattered northwest of Arar
  • Evidence ranges from the Neolithic era to Islamic times, forming a chronological record

JEDDAH: Saudi Arabia’s Northern Borders region contains numerous archaeological sites, reflecting a long history of human settlement dating back to early periods, the Saudi Press Agency reported.
Among the most notable remains are stone structures scattered northwest of Arar.
Varying in shape, size and design, specialists believe these structures date to the end of the Neolithic period and the beginning of subsequent eras. They are thought to have been used as stone tombs to preserve the remains of the dead.
Evidence ranges from the Neolithic era to Islamic times, forming a chronological record that highlights the diversity of communities that once lived in the region and how they interacted with their natural environment over centuries.
Ajab Al-Otaibi, director general of antiquities at the Heritage Commission, said the stone structures and rock art sites in the Northern Borders region represent an integral part of Saudi Arabia’s national cultural heritage and serve as an important resource for archaeological studies and scientific research.
He highlighted the importance of surveys, documentation and protection efforts to preserve these cultural landmarks as a historical legacy for future generations.
The region is also home to several important rock art sites, such as Shu’ayb Hamer, which features a wide and diverse collection of drawings carved on natural rock surfaces, marking it as a key site that documented early human activity in the area.
The artworks depict scenes of hunting, horsemanship, dancing, daily life and social rituals. They were created using a variety of artistic styles, most notably framed and abstract forms, and produced through different techniques including incizing and pecking, both direct and indirect.
The carvings portray human figures and a range of animals, including camels, horses and gazelles, as well as some wild and predatory species that have long since disappeared.
These images provide insight into the richness of the natural environment in earlier periods and help researchers understand the evolving relationship between humans and their surroundings.