Tunisia: NCA Passes Loan Agreement to Fund Integrated Agricultural Development Project in Northern Gafsa

Bardo — The National Constituent Assembly (NCA), Saturday, passed at a plenary session a loan agreement signed between Tunisia and the African Development Bank (AfDB) to finance an integrated development project in Northern Gafsa.

The 45-million-dinar (22,111 million euro) project is repayable over 20 years, including five-year grace period, with a European interbank interest rate (Euribor-for six months) and a variable cost margin.

The project to be carried out in five delegations of Gafsa (Northern Gafsa, Southern Gafsa, Sened, Sidi Yaich and El Gsar) seeks to reduce poverty in rural areas and improve the living standard of a population of about 186 thousand people.

It seeks, practically, to strengthen infrastructure, improve agricultural investment and build skills.

The overall cost of the project is 60 million dinars, excluding VAT (29,131 million euros). It is financed to the tune of 76% by the AfDB through the above-mentioned loan (22.1 million euros).

Secretary of State for Development Noureddine Kaabi said the project of Northern Gafsa will cover nearly 36% of the area of the governorate and will help enhance and develop local oases.

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