Algeria grants 50 million centimes as housing assistance

Each policy holder in Algeria who is expected to get a house will benefit from 50 million centimes Fonds National de Péréquation des Œuvres Sociales (FNPOS), Echorouk has learnt.

FNPOS receives new instructions to raise financial assistance value to every policyholder who benefits from a house from the government. Earlier, the half of the sum was granted as assistance and the remaining 25 million was granted as interest-free loan, according to sources at the work ministry.

Policyholders who benefit from a housing loan with interest rate between 1 and 3 percent will not obtain the financial assistance.

Services granted by FNPOS are different from those of the Social Insurance Fund as families of dead employee lose their right to benefit from  FNPOS advantages according to law.

Concerning housing sector, Interior and housing ministries gave a new joint instruction to prefects to speed up ready social houses.

According to the same sources, a total of 17,000 houses are ready for delivery in Algiers.