Tunisia received EU297 million (about $392.9 million) in loans from the European investment Bank (EIB), the French Development Agency and the German Agency, KFW, to finance part of a rail network project.

The 17.2-kilometer transit system is projected to move 352,000 passengers by 2016, according to EIB and the African Business Journal. The North African nation will also receive a €194 million loan to help it build a power plant, said EIB.

EIB provided a EU177 million loan while the German agency lent EU70 million for the rail scheme, said both groups.

The French agency said it has given Tunisia a EU50 million loan for the same project of which total cost is estimated at EU1.8 billion.