(Ecofin Agency) - The funding -a mix of loans and grants- will finance projects in several sectors including renewable energies, water, sustainable agriculture development, and climate resilience.

Germany recently approved a €405 million (US$430 million) finance package to fund development projects in Tunisia, the Tunisian Foreign Ministry announced in a statement released Saturday, December 24.

The package includes a €105 million grant that will fund projects in “vital cooperation areas” such as regional development, decentralization, youth employment, digitalization, sustainable agriculture development, and climate resilience.

The German development bank KfW also granted a €300 million loan to finance nine development projects in the fields of renewable energy, water, and rural development. 

The agreements relating to the package were signed by the Tunisian Minister of Foreign Affairs, Othman Jerandi, and the German Ambassador to Tunisia, Peter Prügel.