A $55 million loan from the Saudi Fund for Development will help finance the first phase in an upgrade of the railway network dedicated to phosphate transportation, according to Bloomberg, citing a statement by the Tunisian Economy and Planning Commission.
The Commission said the project will raise capacity and have a positive impact on the economy and public finances. It said the Saudi fund is one “of Tunisia’s most prominent development partners” and has provided it with a total $1.2 billion in financing since 1975. The fund is ready to continue supporting Tunisia’s development plans, the Commission cited CEO Sultan Abdulrahman Al-Marshad as saying.