TUNIS, Sept. 13 (Xinhua) — The World Bank signed on Thursday two partnership agreements with Tunisia to grant the North African country 12.5 million U.S. dollars for technical studies on a marine electrical interconnection project between Tunisia and Italy.
The two agreements were signed by Tunisian Minister of Investment and International Cooperation Zied Laadhari and the permanent representative of the World Bank in Tunisia Tony Verheijen.
The project aims to set up a high-voltage electricity network connection with 600 MW of electricity across the Mediterranean between Tunisia and Italy, which will cost 600 million euros (702 million dollars).
“The European Union is committed to mobilizing half of the money and the rest will be funded through public and private partnerships,” Laadhari said.
According to the minister, the project will enable Tunisia to meet its energy needs and export the surplus to the European market.