Islamic Development Bank to support Tunisia with 1.5 billion USD

(MENAFN- Trend News Agency ) The Islamic Development Bank group (IDB) will provide Tunisia with 1.5 billion U.S. dollars in the form of financing public investments, a Tunisia official said Monday, Xinhua reported.

The Tunisian Minister of Development, investment and International Cooperation Zied Laadhari made the announcement at the 43rd annual meeting of the IDB group held here until Thursday.

The Tunisian minister, who chaired the board of governors, revealed that Tunisia will soon sign a partnership contract with the group of IDB covering the next 5 years.

About 57 ministers of finance from the IDB group member states participated in the meetings, also attended by 60 official delegations and over 1,000 participants including experts, investors and global economic players.

"Since 2011, IDB financing in development projects in Tunisia has reached 2.17 billion Tunisian dinars (about 902 million dollars)," said Laadhari.

The IDB has already agreed the creation of a STI (Science, Technology and Innovation) fund, with a value of 500 million dollars, to support start-ups as well as emerging Tunisian companies in this sector.

"The group's global financing for the country exceeds 3.2 billion dollars, mainly in electricity with 6 projects and an envelope of 756 million dollars, in addition to 1.1 billion dollars in insured business," said IDB Group President Bandar Hajjar.

Hajjar said Tunisia has just received the IDB approval to finance a number of development projects in some of the country's inland provinces, including construction of hospitals and transfer of electrical energy.

Hajjar further assured Tunisia help in addressing major challenges and obstacles to achieve economic and social prosperity.

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