IsDB to Finance US $184m Projects in Tunisia

Islamic Development Bank’s (IsDB) Board of Executive Directors (BED) meeting has approved mega financing for different projects in Tunisia. 

At the occasion of IsDB’s five-day 43rd Annual Meeting in the Tunis, Tunisia, BED,  approved USD 184 million of financing for several development projects in Tunisia. Dr. Bandar Hajjar, President of the IsDB Group headed the meeting in Tunisia. 

The pledged financings are dissected as follows:

Electricity Sector Development Project:

USD 150 million has been allotted for the electricity sector development; 210 km of electricity cable transmission lines will be added, 30 substations will be reconstructed and high potential electricity cables and its materials will also be implemented to enhance the Tunisian national electricity company’s service. The project aims to strongly support the company on its mission.

Establishment of two regional hospitals in Thala and Dahmani Districts:

USD 33.63 million has been assigned to the Thala and Dahmani District project that would increase the number of beds up to 105 in both hospitals. Besides, providing modern medical equipment and devices, project management assistance and consultations logistical support would also be provided. 

Technical Support Project:

A USD 280,000 fund has been dedicated to device a feasibility program for the improvement of the economic and social integration of the underprivileged communities near the borders. 

Another USD 280,000 fund has been dedicated as a second technical assistance grant to study the feasibility of cellulose factory transfer outside the city of Kasserine.

The IsDB financing in Tunisia has reached approximately USD 3.2 billion since Tunisia’s joining the bank in 1978.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), an IsDB Group’s entity, accomplished the mission of ensuring the import and export operations in the country with USD1.1 billion budget. 

IsDB is committed to support Tunisian economy and enhance the commercial exchange between Tunisia and other country members. 

 IsDB Group’s research arm, Islamic Research and Training Institute (IRTI), would continue to provide the facilitation of training sessions as part of its plan to strengthen the financial development services in Tunisia.

Dr. Hajjar lauded the Tunisian president and government for their dedicated efforts for hosting the 43rd IsDB Annual Meeting. He acknowledged the warm welcome that all the participants received.