VOL. XLII

No. 23

7-June-1999

ALGERIA

AFESD Agrees $98Mn Loan To Algeria For Power Plants

The Arab Fund for Economic and Social Development (AFESD)has made KD30mn ($98mn) available to Algeria痴 Sonelgaz for the replacement ofaging power plants in Algiers, in an effort to secure the country痴 electricalenergy needs up until 2006. The project is expected to cost KD94mn ($306mn), withthe remainder of financing coming from the Islamic Development Bank, the SaudiFund for Development, Sonelgaz and the...