Tunisia, Saudi Arabia sign $500m loan deal

July 22nd, 2023

Awake Goy

The governments of Tunisia and Saudi Arabia signed a soft loan agreement worth $400 million and a financial grant of $100 million offered by Riyadh to help mitigate Tunis' budget deficit. This came at a time when Tunisia is facing a budget deficit crisis and a decline in foreign investments. The Tunisian radio reported that Finance Minister Siham Boughdiri Nemsia and Saudi Finance Minister Muhammad Al-Jadaan signed a $400 million soft loan agreement at the Tunisian government palace in Kasbah. They also signed a $100 million grant agreement. The Tunisian minister stated that the loan and grant agreements will be directed to support the state's general budget. READ: Tunisia borrows $87.1m from African Development Bank for grain production According to the […] Source

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