Saudi fund to finance rail for phosphate movement in Tunisia
The project will help renew approximately 190 km of the railway network, to support increasing the capacity for transporting phosphate.
The Saudi Fund for Development (SFD) signed a new development loan agreement with Tunisia to contribute $55 million to finance the project for renewing and developing the railway network for phosphate transportation in Tunisia.
This agreement marks a significant step forward for improving Tunisia's infrastructure for transportation.
Specifically, the project will help renew approximately 190 km of the railway network, to support increasing the capacity for transporting phosphate, and contribute towards Tunisia’s economic growth, by creating direct and indirect job opportunities, in addition to alleviating the burden on the road network and reducing traffic congestion.
Since 1975, SFD has financed 35 development projects and programs in Tunisia, worth over $1.3 billion USD, to support the country’s key developmental sectors, including social infrastructure, transportation and communication, energy, and rural development.
