No 11



IDB Grants Algeria $60Mn Loan For Phone Network

The Islamic Development Bank (IDB) has granted Algeria a $60mn loan to help finance the extension of the countrys GSM mobile phone network. The project will double the number of mobile telephone lines in the country from 500,000 to 1mn at an estimated total cost of $142mn. The tender for the project was awarded last month to Swedish firm Ericsson, which beat off competition from Siemens of Germany and Alcatel of...