Supporting Primary Education in Tunisia
A loan Agreement for KD 50 Million was signed in Tunisia on the 1st of March, 2018 between the Government of the Republic of Tunisia and the Arab Fund for Economic and Social Development, in order to help finance a project for Supporting Primary Education.
The loan agreement was signed by H.E. Ziyad Al-Athari, Minister of Development, Investment and International Cooperation on behalf of the Tunisian Government, and by H.E. Mr. Abdlatif Yousef Al-Hamad, Director General/Chairman of the Board of Directors of the Arab Fund, on behalf of the Fund.
The project, which is considered to be a part of the program to support elementary schools in the Republic of Tunisia for the period 2016 -2020, aims at providing the appropriate conditions and the necessary means to develop primary education, and at setting quality standards, and principles of equity and equal opportunities. This will be accomplished through the maintenance and rehabilitation of deteriorated buildings and school facilities, the expansion of existing schools, the construction of new schools, and the provision of school furniture and supplies, along with digital equipment.
The project includes the following main components:
The loan will carry interest at 2.5% per annum, and will be repayable over 30 years, including a 5 years grace period.
The Ministry of Education will be the beneficiary of the loan and will be responsible for the implementation of the project.
With the signing of this loan, the Arab Fundís total contribution to financing projects in the Republic of Tunisia amounts to KD 986 million.