Tunisia gets $99 million loan from European bank

Tunisia and the European Investment Bank signed an agreement through which the former will get a loan worth of $99 million dedicated to financing the renovation of the railway sector and other projects.

A Tunisian official said that 50% of the loan will be allocated to clean and fill up with earth the Southern Lake of Tunisia. The European bank will also contribute to water treatment projects and projects to reduce pollution emitted from factories.

The Tunisian official added that the project will lead to setting up a housing area similar to the area in the Northern Lake of Tunisia which had been filled up with earth and was turned into a huge housing area. This will also help in setting up many office buildings, an entertainment city and a commercial center.

$18 million will be allocated to support the privatization process of public establishments, $31 million will be dedicated for developing the railway network which connects the capital with the cities of Kabes and Safakis.

The renovation process includes renovating about 180 kilometers of railway and includes buying equipment to reduce travel time and improve the process of moving passengers and cargo. Tunisia has received $518 million from the European Investment Bank since 1978.