UNDP: Commission for Regulating and Controlling Stock Market supports Algeria’s financial reforms

Project of supporting financial reforms in Algeria worth $5.1 m was signed between Algerian government and the United Nations Development Program, the Commission of Regulating and Controlling Stock Market in charge of supervising this project said here on Tuesday.

  The project signed within the framework of financial reforms by the Algerian government and its strategy to diversify its economy for reducing dependence on hydrocarbons and improve the competitiveness of companies.

This project extends over the period of 14 months aiming to develop an outline for the organization and conduct of the Algerian financial market.

Activities under this project are expected to contribute in the development of an efficient, open, organized and reliable market to form the source of direct funding of public and private institutions.

The UN commission will supervise on the first stage of market reform in Algeria under the slogan “Evaluation-Imagination”, while the Ministry of Finance will ensure strategic conduct of institutions and work on the study and approval of reports and results of working groups.

The primary objective of this stage is the perception of the model and scheme for organizing and conducting the Algerian financial market in the framework of international standards.