(MENAFN- Kuwait News Agency (KUNA)) Kuwait Fund for Arab Economic Development (KFAED) and Tunisia signed on Wednesday an agreement by virtue of which the Fund will offer an easy loan of KD 8.5 million (USD 30 million).
The loan has a two percent annual interest over a 20-year-span, with a grace period of four years.
The loan agreement was signed by Ambassador in Tunis Fahad Al-Awadhi and director general at the Tunisian ministry of development and international cooperation Iqbal Faqih, with the presence of a KFAED delegation "This agreement is yet another step in the path of cooperation between Tunisia and Kuwait since 1963," Ambassador Al-Awadhi told KUNA after the signing ceremony.
So far, the Fund offered some USD 600 million in easy loans to finance developmental projects in Tunisia.
On her part, Faqih said the loan will finance a 15-kilometer highway around 5the capital.
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