VOL. XLIV

No. 29

16-July-2001

ALGERIA

IDB Signs $46MnFacility With Sonatrach

Sonatrach announced on 10 Julythat it had signed two financing agreements for a total of $46mn with theJiddah-based Islamic Development Bank (IDB). According to a statement issued bythe company, the first agreement relates to a total of $31mn from the IDBs ownfunds, while the remaining $15mn will be sourced from the IDBs InvestmentFund.

The finance, which will be in theform of an istithna transaction, will finance goods...