African Development Bank Grants Tunisia $17 Million for Sustainable Development
As part of its commitment to sustainable development, the African Development Bank (AfDB) has granted Tunisia a financing package of $17 million, comprising a $14 million loan and a $3 million grant, according to the Tunisian Agency for Press (TAP).
Promoting Agroforestry and Forest Landscape Restoration
Signed on June 13, this envelope, which comes from the Strategic Climate Fund's Forest Investment Program (FSC/FIP), aims to promote agroforestry and restore degraded forest landscapes.
Project Objectives
The project, which will run from 2024 to 2029, seeks to promote inclusive and sustainable investments, reduce poverty, generate wealth, and improve Tunisia's carbon footprint through income-generating activities.
Project Implementation
Led by the General Directorate of Forests, under the Ministry of Agriculture, Water Resources, and Fisheries, the project aims to strengthen the fight against forest fires and establish an early warning system to protect natural resources.
Socio-Economic Impact
The project is expected to improve the quality of life for approximately 42,000 people and create around 2,200 direct and indirect jobs.
Loan Terms
The loan has a fixed annual interest rate of 1.11% and is repayable over a period of 20 years, including an 8-year grace period.
Total Project Cost
The total project cost amounts to 73.539 million dinars, financed by the AfDB to the tune of $17 million, complemented by a government contribution of $6.062 million and a beneficiary contribution of approximately $0.661 million.