Loan benefiting Tunisian highway connection

Construction work on a highway link in Tunisia will be funded by a 22 year loan being provided by the 3409 Arab Fund for Social and Economic Development (FADES). The US$138 million loan will be used by Tunisian roads body Société 3410 Tunisie Autoroutes (STA) to finance a portion of the work on the $312.4 million tolled highway project linking Zarga (Béja) and Bousalem (Jendouba). The project will include building and surfacing a 54km stretch, providing connection to neighbouring towns, constructing overpasses and toll stations. There is a five year grace period on the loan, and the interest rate stands at 3%/year.