The Saudi Development Bank has lent Tunisia TND 230mn (USD 150mn) to help build 20,000 affordable housing units, state news agency TAP reported. The 20-year facility holds a five-year grace period.
The first phase includes constructing 4,000 residential units in seven provinces including Ariana, Ben Arous, Nabeul, Zaghouan, Manouba, Sousse and Jendouba. The second phase reportedly implies building 16,000 housing units in other governorates.
Strong local demand for affordable housing is boosting the construction sectors’ output and related contribution to Tunisia’s GDP growth. Construction output also helped offset falling agriculture output, which cut the GDP growth to 2.7% y/y in Q1 from 4.0% in Q4 2012.
Strong manufacturing activity, mainly food processing, textiles and construction, also helped Tunisia's industrial production grow 2.2% y/y in January-March 2013.
Related Articles
Tunisia kicks off stalled expansion of solar projects with 1.3GW capacity push
Tunisia is finally accelerating the deployment of its large-scale photovoltaic (PV) sector after years of slow progress, with construction now underway across multiple major projects, PV-Magazine ... more
Shell and Petronas seek 20% gas price increase for Egypt’s West Delta marine phase
UK energy major Shell (LON:SHEL) and Malaysia's national oil and gas company Petronas have asked the Egyptian Natural Gas Holding Company (EGAS) to raise the gas price for the upcoming Phase 12 ... more
Egypt and Russia finalise key agreements for Dabaa Nuclear Power Plant
Egypt has signed an agreement with Russia’s Rosatom to secure the nuclear fuel supply for Unit 1 of the Dabaa Nuclear Power Plant, Al Ahram reported on November 19. Officials said the agreement ... more
Most Read
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago