The Saudi Fund for Development (SFD), through CEO Sultan Al-Marshad, has signed a significant development loan agreement with Tunisian Minister of Economy and Planning, Samir Abdelhafidh. This funding, over $38 million, is earmarked for the crucial Oasis Hub Project in southern Tunisia.

This agreement, witnessed by Saudi Ambassador Abdulaziz Al-waqa'i'a, underscores a robust development partnership that has flourished between Saudi Arabia and Tunisia for nearly five decades. It highlights a shared commitment to progress and collaboration.

The Oasis Hub Project aims to foster sustainable rural development by reclaiming over 1,000 hectares of agricultural land. Key initiatives include drilling 22 wells, expanding rural infrastructure, and constructing more than 285 new housing units for local communities.

This aligns with the SFD's broader mission to promote sustainable growth in Tunisia. By financing vital infrastructure, the project seeks to elevate living standards, generate employment opportunities, and directly contribute to the **Sustainable Development Goals**.

The initiative will significantly enhance regional infrastructure by building new roads, pipelines, and essential water networks for both drinking and irrigation. It will also bolster educational, agricultural, cultural, social, and commercial facilities.

Ultimately, these concerted efforts are designed to improve the overall quality of life and stimulate substantial economic and social growth across Tunisia's southern governorates. The SFD's engagement in Tunisia dates back to 1975, with over $1.2 billion in concessional loans and $105 million in grants for 32 projects.

Source: https://www.arabnews.com/node/2606158/saudi-arabia