Saudi favours Tunisia with $500m loan
News & Trends •
saudi arabia has resolved to lend tunisia 500 million at a favourable interest rate and will finance two projects worth 140 million in spite of the protest by tunisians against saudi1 the package was released a day after the visit of saudi crown prince sparked protests in tunisia1 tunisians staged a protest against saudi arabias crown prince mohammed bin salman denouncing him as a murderer involved in the killing of saudi journalist jamal khashoggi1 the crown prince who faces no overt criticism in his country received lavish receptions earlier in his tour in visits to bahrain the united arab emirates and egypt1 tunisias president beji caid essebsi received the crown prince and awarded him the republics medal the countrys highest official award. the african country has been struggling economically and is dire need of funding1 an advisor to the president nourredine ben ticha told state television that tunisia will announce in a few days important deals with saudi including a loan with low interest rate agreements on investment and other important details1 an official and a source close to the discussions between prince mohammed and essebsi told reuters that the loan would be worth 500 million. the two sources also acknowledged that the saudi development fund will finance two projects worth about 140 million but did not give more details1 tunisia is currently 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 bill1