Financial and Banking News

AID FLOWS

IRBD Lends Algeria $214mn

The World Bank has agreed to lend Algeria $214mn, according to a statement issued on 14 May. The first loan, for $120mn, will help finance pavement strengthening on about 400 kms of primary roads, and a two-year pilot program of road maintenance in which competitive bidding for contracts will be introduced. The second loan, for $94mn, will finance a project for upgrading irrigation systems in the Cheliff river basin, which is...