VOL. XLV

No 45

11-November-2002

ALGERIA

OPIC To Finance Non-Hydrocarbon Projects Worth $250Mn In Algeria

The Overseas Private Investment Corporation (OPIC), a US government agency, has agreed to finance non-hydrocarbon projects worth $250mn in Algeria through long-term loans in two installments of $125mn. According to Union Bank, a private financing group which is supervising the program, the financing constitutes the first significant commitment of US capital to the countrys non-hydrocarbon...