Tunisia gets USD 150mn Saudi loan for housing projects

By bne IntelliNews May 29, 2013

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.

Read in IntelliNews Pro

Get IntelliNews Pro

Related Articles

Erdogan: Turkey may strike Kurdish militants in Iraq’s Quandil Mountains “at any moment one evening”

Turkey will strike Kurdish militant camps in the mountains of northern Iraq if Baghdad does not itself clear the area of militants, President Recept Tayyip Erdogan said on June 7. On June 6, ... more

UAE investor to develop $500mn agri-food group in Romania

The Al Dahra Group of the United Arab Emirates (UAE) wants to purchase nearly 60,000 hectares of agricultural land along the Danube River, develop a logistics company including water and road ... more

UAE to buy major stakes in Kazakh special economic zones

The United Arab Emirates’ (UAE’s) global port operator Dubai Ports World on March 24 signed two framework agreements to acquire stakes in Kazakhstan’s two Special Economic ... more

Dismiss