Algerian authorities to implement incentive measures for investments in the agriculture sector

The Ministry of Employment and Social Cohesion in collaboration with the financial institutions and banks, has decided to lower interest rates on credits for investments designed to promote employment for youngsters.

• The rates- cut will near 80% for the activities in the agriculture and fishing sectors, 60%  in the other sectors and exceptionally this cut will vary between 80 to 95% for credits dedicated to investments in special zones.
• In a bid to implement these new measures, the Algerian authorities have decided to create several branches of the National Agency for Employment whose task is to finance and supervise the projects presented by the young investors.
• These special Committees comprise several representatives from the employment department, banks’ partners, tax department as well a representative from the National Employment Agency in charge of supervising the projects.
• The National Employment Agency will rely on these Committees to reduce the period of the study of the investors’ projects and their financing as part of the preliminary study of the file presented by young entrepreneurs.
• In this respect, the investors have to participate with a 5% of the gross total cost of investment for projects valued at 5 million Algerian Dinars and 10% for those estimated at 10 million Algerian Dinars.