Algeria to create bank for 20,000 small and medium-sized enterprises

The government established a set of new procedures to boost a project to create 20,000 small and medium-sized enterprises. A bank to fund the new enterprises will be set up.

According to an official document, small enterprises owners will benefit from advantages to get bank funding. They will be accompanied to ensure their projects feasibility through training courses in management.

The National Agency for Small and Medium-Sized Enterprises Development will be the only tool for the State to execute its policy. 

The Agency will have all the necessary means to help enterprises in developing their economic activities.

A bank for small and medium-sized enterprises will be created to offer all the suitable means and prerogatives to execute financial services. 

The Fund for Loans Insurance and the National Agency for Small and Medium-Sized Enterprises Development will be involved as part of a general approach to accompany enterprises at this bank.

A new draft law will be discussed at Parliament to encourage subcontracting as part of public deals.

This comes as an attempt to be liberated from dependency on oil incomes. A diagnostics submitted to the government showed that public authorities did not each their objectives.