25,000 projects will create 40,000 new jobs in Algeria

Algerian work ministry approved 25,000 projects to create more than 40,000 new jobs as part of a mechanism supported by the National Fund for Unemployment Insurance.

The Fund will raise projects funding rate for unemployed people as the number of projects reached 15,000 in the last ten months. Priority was given to services sector by 26 percent followed by agriculture by 18 percent and handcrafts by 13 percent, the Fund’s General Director Taleb Ahmed Chawki told Echorouk Sunday on the phone.

“Those projects created more than 29,000 new jobs. The Fund encourages agricultural projects. Successful projects in this field reached 40 percent this year,” he added.

Asked about the Fund’s plans for 2015, Chawki said a plan to fund 25,000 for unemployed people will create 40,000 new jobs.

He also said the Fund follows up funded projects. A total of 400 consultants are trained in this respect. A number of them are working in the field across 48 provinces in Algeria. They are in charge of following up investments and checking the money of the State’s Treasury. Interest rates were banned by 100 percent in all the provinces.