World Bank : Commitment not based on project funding

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Algeria has “sufficient financial resources” and does not need to borrow from neither the World Bank (WB) nor the other financial institutions, World Bank Group Vice President for Middle East and North Africa Ferid Belhaj, said in an interview with APS.

 

Our (World Bank) commitment for Algeria is not based on project funding. Algeria has enough financing and does not need to borrow from the World Bank.

Our engagement with Algeria is a commitment we have raised in terms of dialogue and exchange of experiences, “said the representative of the WB, visiting Algeria from 4 to 7 September.

Asked about the results of his visit to Algeria, the representative of the institution of Bretton Woods argues that the meetings he had with the ministers, respectively, Finance, Interior, local Assemblies and Regional Planning, Public Works and Transport, and Industry and Mines, as well as the Governor of the Bank of Algeria, provided an overview of the economic situation in Algeria with its dimensions and social depths: “What I drew from this first contact is that we are in the presence of a new Algeria,” he says.

APS

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