Riyadh: Saudi Fund for Development CEO Sultan Al-Marshad signed a new development loan agreement with Tunisian Minister of Economy and Planning Samir Abdelhafidh to finance the Oasis Hub Project in southern Tunisia.
The loan, exceeding $38 million, was signed in the presence of Saudi Ambassador to Tunisia Abdulaziz Al-Saqr. The agreement reflects a strong development partnership spanning nearly 50 years, the Saudi Press Agency reported.
The Oasis Hub Project aims to support sustainable rural development by reclaiming more than 1,000 hectares of agricultural land across various Tunisian regions. It includes drilling and equipping 22 wells, expanding rural villages and infrastructure, and building more than 285 housing units for local residents.
The agreement is part of the Saudi fund’s ongoing efforts to promote sustainable development in Tunisia by financing infrastructure that improves living standards, creates jobs, and supports the Sustainable Development Goals.
The project will enhance regional infrastructure through the construction of roads, pipelines, and water networks for drinking and irrigation. It will also support educational institutions, agricultural facilities, and cultural, social, and commercial centers.
These efforts aim to improve quality of life and drive economic and social growth in Tunisia’s southern governorates, the SPA reported.
Since beginning operations in Tunisia in 1975, the Saudi fund has financed 32 development projects and programs through concessional loans totaling more than $1.2 billion, along with grants exceeding $105 million.
On the sidelines of the signing, Al-Marshad met with Tunisian Prime Minister Sarra Zaafrani Zenzri in Tunis, joined by Abdelhafidh, Al-Saqr, and other officials.
The meeting explored ways to strengthen development cooperation and highlighted the decades-long partnership, especially in financing key projects in Tunisia.
Al-Marshad also met with Tunisian Minister of Health Dr. Mustapha Ferjani to discuss ongoing health projects funded by the Saudi fund and potential support for the Tunisian health sector.
