Saudi Arabia to Give Tunisia $500mln as Soft Loan and Grant1 min read

Thursday, Saudi Arabia’s ambassador to Tunis, Abdel-Aziz al-Saqer, announced that the country will give Tunisia $500 million in the form of a soft loan and a grant to support its economy.

TUNIS, July 20 – Tunisia is struggling to cut its budget deficit, stabilize falling foreign currency reserves and manage expectations of international lenders demanding reforms such as trimming the public wage bill.

The financial assistance pledged to Tunisia consists of a soft loan of $400 million at a favorable interest rate and a grant of $100 million.

Mohammed Abdullah al-Jadaan, the Saudi minister of finance, and Siham al-Boughdiri, his Tunisian counterpart, signed the agreements in Tunis.