Saudi Arabia grants $500 million aid to Tunisia

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Saudi Gazette report

TUNIS โ€” In the implementation of the directives of Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman, Saudi Arabia has extended $500 million in a soft loan and a grant to Tunisia.

Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan and Tunisia’s Minister of Economy and Finance Sihem Boughdiri signed on Thursday in Tunis an agreement to provide a soft loan of $400 million, and a memorandum of understanding (MoU) for a grant of $100 million.

Al-Jadaan stated that the agreement to provide the concessional loan and the MoU comes as an affirmation of the depth of the solid relationship between the leaderships of the two countries and as a continuation of Saudi Arabia’s efforts and its role in supporting the Arab and Islamic countries in terms of development and economic assistance. “These agreements are part of the Kingdom’s efforts to support the stability and prosperity of Tunisia,” he said.

The minister has pointed out that Saudi Arabia will continue strengthening cooperation in different fields with Tunisia while confirming that the concessional loan and the grant come as an extension of the Kingdom’s previous efforts, the last of which is a cash loan of $500 million to the current account of the Tunisian treasury in 2019.

This support will contribute directly to opening new financing networks to Tunisia from friendly countries, as well as international and regional financial institutions.

Al-Jadaan has met with Tunisian President Kais Saied and conveyed to him the greetings of Saudi Arabia’s leadership, and their wishes of continued stability and prosperity for Tunisia and its people.

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