VOL. XXXIV
NO. 45
12-AUGUST-1991
Algeria
World Bank Lends Sonatrach $100mn to Assist in New Oil Policy Drive
On 2 August, the World Bank approved a $100mn loan to Algeria's state-ownedSonatrach to assist in attracting foreign oil companies to undertake explorationand development, as well as to optimize production from Algerian oil fieldsthrough enhanced oil recovery. The loan is for 17 years, including five years ofgrace, with a variable interest rate linked to the cost of the Bank'sborrowings and...
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