Saudi Arabia plans $500m economic aid for Tunisia

Saudi Arabia and Tunisia have recently inked significant agreements, demonstrating their commitment to fostering economic growth and stability in Tunisia. The deals, worth a total of 500 million U.S. dollars, were formalized in the presence of Tunisian Prime Minister Najla Bouden Romdhane in the capital city of Tunis.

Tunisian Finance Minister Sihem Namsia and her Saudi counterpart, Mohammed bin Abdullah Al-Jadaan, were the signatories of these pivotal agreements. The financial assistance provided by Saudi Arabia to Tunisia is earmarked for supporting the nation’s state budget during challenging economic times.

The agreements encompass a soft loan of 400 million dollars, offering Tunisia favourable financial terms to address its pressing economic needs. Additionally, Tunisia will benefit from a substantial grant amounting to 100 million dollars, intended to inject a direct boost to its economy.

Abdulaziz bin Ali Al-Saqr, Saudi Arabia’s Ambassador to Tunisia, expressed the significance of these agreements, emphasising their purpose in aiding Tunisia in overcoming its ongoing economic crisis. By extending this financial lifeline, Saudi Arabia seeks to play a vital role in supporting Tunisia’s journey towards economic recovery.

Minister Namsia remarked on the signing of these agreements, highlighting their role in further consolidating the bilateral ties and long-standing cooperation between Saudi Arabia and Tunisia. The collaboration between the two nations is viewed as a testament to the enduring and strong relationship they share.

Moreover, the Saudi Minister underscored that the agreements signify the robustness of the relations between the two countries and underscore the sincere efforts made by Saudi Arabia to contribute to the revitalisation of Tunisia’s economy.

Through these mutual accords, Saudi Arabia and Tunisia have reaffirmed their commitment to working hand in hand, fostering prosperity and economic growth for the benefit of both nations.