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Algeria announces $1 billion to support development projects in Africa

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Algerian President Abdelmajid Tebboun announced today, Sunday, the allocation of one billion US dollars to support development projects on the African continent.

Tebbun said in his country’s speech at the Africa Summit in Addis Ababa, delivered on his behalf by Prime Minister Ayman bin Abdel Rahman: “I have decided to siphon off one billion US dollars to the Algiers International Cooperation Agency in the interests of solidarity. and Development to finance development projects in African countries, especially those that are inclusive or that will help advance development on the continent.

Tebbun added: “The agency is initiating procedures to implement this strategic initiative in coordination with African countries wishing to benefit from it.”

In his speech, the President of Algeria confirmed that the move stems from “Algeria’s conviction that security and stability in Africa are linked to development.”

Source: Al-Shoruk

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