Algeria tightens belt in its African institutions contributions

Algeria is on its way to reduce budget allocated to the African Union’s Fund due to oil price fall. Each State will present the value of its contributions in the African Summit due to be held on Sunday in Rwanda’s capital.

Algeria is not expected to pay the same budget as in the previous years. It is in its way to borrow money from friend African nations to fund its project, according to the foreign minister Ramtane Lamamra.

Earlier on Thursday, Lamamra held talks with his Egyptian counterpart Sameh Chokri ahead of the 27th Summit.

According to Egyptian media, the meeting between the two ministers dealt with bilateral relations and the optimization of the African Union’s budget 2017. 

The African Union puts funding plans via contributions. Yet, reports show that a small number of nations pay their contributions. Because of that, a number of presidents and African governments propose alternative funding sources. 

Algeria, Egypt, Nigeria and South Africa contribute with about 48 percent of the total budget.