TUNIS: The Saudi Fund for Development (SFD) signed a new development loan agreement on Saturday with Tunisia’s Ministry of Economy and Planning to finance the Oasis Hub Project in southern Tunisia. The agreement, worth over $38 million, was signed by SFD CEO Sultan Al-Marshad and Tunisian Economy Minister Dr. Samir Abdelhafidh, in the presence of Saudi Ambassador to Tunisia Dr. Abdulaziz bin Ali Al-Saqr.
The Oasis Hub Project aims to promote sustainable rural development by reclaiming over 1,000 hectares of agricultural land, drilling and equipping 22 wells, expanding rural villages and their infrastructure, and constructing more than 285 housing units for local residents.
In addition, the project includes the construction of roads, pipelines, and water networks for potable and irrigation use, along with facilities to support education, agriculture, culture, commerce, and social services, all intended to improve living standards and foster economic growth in Tunisia’s southern governorates.
The agreement highlights the enduring development partnership between Saudi Arabia and Tunisia, which spans nearly five decades. Since 1975, SFD has financed 32 projects in Tunisia through concessional loans totaling more than $1.2 billion, alongside over $105 million in grants provided by the Kingdom.
