(MENAFN) Tunisia and Germany have signed a loan agreement worth USD55.21 million for the modernization of more than 300 educational institutions in the different regions of the country, QNA reported.
According to a document of the Finance Ministry, this project provides for building, refitting and equipping 59 new educational institutions and the fitting out of 310 others located in the regions of the country.
"Granted by the German Development Bank (KFW), the credit is repayable over 15 years with a 5-year grace period and an interest rate set at 3 percent", Tunisian Minister of Finance said.
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