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Islamic Development Bank to finance projects worth USD 185 mn in Tunisia

The bank agreed to finance an electricity link worth USD 150 as well as the construction of hospitals in Kasserine and Kef worth USD 34 million.


Islamic Development Bank to finance projects worth USD 185 mn in Tunisia
The agreement will be signed on Thursday between Tunisia's Minister of Development and the head of the bank. (Image Credit: Wikimedia)

The Islamic Development Bank has agreed on Sunday to lend Tunisia USD 185 million to finance developments including an electricity project, an official told Reuters.

The bank agreed to finance an electricity link worth USD 150 as well as the construction of hospitals in Kasserine and Kef worth USD 34 million.

The agreement will be signed on Thursday between Tunisia's Minister of Development and the head of the bank, which holds its annual meeting in the country this year.

The International Monetary Fund also recently approved the payment of a USD 257 million tranche of Tunisia's loan programme and urged it to go ahead with more reforms.

The IMF said in a statement that among the priorities for 2018 are to strengthen tax collection, not grant new wage increases unless growth surprises on the upside and enact quarterly price increase for fuel.

Also Read | Tunisia raises fuel prices again in an effort to reduce budget deficit

(With inputs from Reuters)


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