$1 Billion to be Allotted in a bid to subsidize Development Projects in Africa Prime Minister Aimene Benabderrahman noted at the African Union Summit
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Algerian President Abdelmadjid Tebboune said on last Sunday the North African country will allot billion dollars to fund development programs across the landmass through the Algerian Agency of International Cooperation for Solidarity and Development.
According to sources, the President’s opinion was declared openly in a speech read by Prime Minister Aimene Benabderrahmane at the annual African Union summit of leaders in the Ethiopian capital, Addis Ababa.
“I have decided to inject one billion US dollars for the benefit of the Algerian Agency of International Cooperation for Solidarity and Development to finance development projects in African countries.”
It is asserted interest would be paid to “integration projects or those able to contribute to accelerating development in Africa”.
Tebboune announced, the agency’s approach was based on Algeria’s conviction that “security and stability in Africa are linked to development”.
Algeria is Africa’s top gas exporter.
APS mumbled, the administration agency, ascertained in 2020, would relate with African nations striving to advantage from the industry.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent