AfDB supports Tunisia's transport projects with highway finance
24 June 2011
The African Development Bank (AfDB) has confirmed a loan to help pay for a highway in Tunisia to show its continuing support for the country's transport infrastructure expansion.
A fund of €137.34 million (£122.04 million) was approved by the group's board of directors to be lent to the Tunisia Highways Corporation to pay for a stretch of the road between Gabes and Ras Jedir.
The money will finance the Medenine to Ras Jedir part of the 195 kilometre-long highway.
Gilbert Mbesherubusa, director of transportation infrastructure at the AfDB, said this participation shows that the organisation will continue to help Tunisia with its growth and supports the "modernisation of its transport system".
The road, which is also being funded with help from the Japan International Corporation Agency and the Tunisian government, will ease traffic congestion, create 30,000 jobs and open up rural areas, according to the AfDB.
Tunisia's transport sector is not the only development the group is helping with, as earlier this month it agreed to give $500 million (£312.28 million) to support the country's budget.