Kuwait inks Tunisia road infrastructure project deal

      Published on Tuesday, 1 January , 2019      2495 Views     
Kuwait inks Tunisia road infrastructure project deal

Kuwait Fund for Arab Economic Development has signed an agreement with the Tunisian government authorities for key infrastructure development projects in the capital Tunis, said a report.

As per the deal, the Kuwait Fund will provide a loan of KD30 million ($98.4 million) to help finance the Rehabilitation of Rullar Roads Project which involves rehabilitation and asphalting of about 912 km of rural roads, reported Arab Times.

It is the 37th loan provided by the Kuwait Fund to the Republic of Tunisia taking the total loan amount to about KD223 million ($731 million).

The project aims at contributing to support social and economic development of the Republic of Tunisia, and in particular to improve agricultural productions and enhancing the living standards of the farmers in the project areas besides alleviating the migration rates from villages to towns, by improving and rehabilitation of a total of 148 rural roads running about 912 km long in 22 governorates of the country, said the report.

The project aims also to reduce the production costs, saving time and providing easy access to local markets, it added.

Category: #Kuwait News | 2019/01/01 latest update at 12:00 AM
Source : Trade Arabia | Photocredit : Google
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