Financial and Banking News


EIB Lends $55mn to Algeria 

The European Investment Bank (EIB) has completed the arrangements for a $54.75mn credit package for Algeria comprising two tranches. The first is a 20-year credit for $18mn at a flat concessionary rate of 6.95% per annum, which is earmarked for financing the expansion of the port of Bejaia. The second tranche is to upgrade roads in the ports hinterland, with 100 kms. of new roads to be laid and 33 kms. of...