Announcement of Tunisia to Use World Bank Loan of Twenty-Five Million Dollars for Flood Protection Project on May 26, 1983

II FOR IMMEDIATE R~L. ASE . • IY •World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 BANK NEWS RELEASE N0.83/90 Contact: Fawzi Rihane May 26, 1983 ( 202) 47 7-3651 TUNISIA TO USE WORLD BANK LOAN OF $25 MILLION FOR ~·100D PROTECTION PROJECT A project to minimize loss of life, property,and production from floods in Sfax, Tunisia's second largest city with 313,000 people, will benefit from a loan of $25 million from the International Bank for Reconstruction and Development (IBRD). A 1982 flood took many lives and left about $75 million in property damages. To ensure permanent and efficient flood protection, dry river beds on both sides of the city in eastern Tunisia which act as channels for flood water will be rehabilitated. An eight kilometer-long-canal and other protection works will be constructed by mid-1988. By containing flood waters, the project will reduce erosion and health hazards • • A special section within the Sfax Regional Directorate of the Ministry of Equipment will be staffed and equipped to be responsible for maintenance and r~pair of flood protection works. Although the $48 million project represents the first IBRD-assistecl project dealing solely with flood control in Tunisia, previous sewerage and urban development projects have had stormwater drainage components. The Republic of Tunisia will contribute $23 million towards project costs. The IBRD loan is for 17 years, including four years of grace, at an annual interest rate linked to the cost of Bank borrowings. The loan also carries an annual commitment charge of 0.75% on undisbursed balances and a front-end fee of 0.25% on the amount of the loan. NOTE: Money figures are expressed in U.S. dollar equivalents • •