Government: Private Banks to finance economic projects in the offing

The government will, soon after the upcoming presidential elections, start implementing a brand new strategy in the direction of the economic institutions with the view to boosting its role in sustaining the development plan across the country.

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• This policy is designed to set up a battery of measures during the five-year plan 2010-2014 in a move to accompany and foster productive investment on practical basis.
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• According to “Echorouk” sources, this strategy will basically focus on establishing pools of orientation and information whose main task will consist in erecting a“  cluster of economic companies” designed for the creation of wealth and new jobs, especially that the most likely future president Abdelaziz Bouteflika has promised to create 3 million new jobs half of them permanent ones.
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• These sources revealed that the small and medium size companies’ ministry is working these days to prepare a bunch of new measures to support these companies after a first successful pilot experience implemented in some regions of the country, pushing the authorities to generalize it to other regions.
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• In parallel, it is intended to create banks to accompany and finance projects presented by new investors in addition to the setting up of economic pools to generate wealth apart from the hydrocarbons sector.
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• To recall, the Algerian government invested during the current five-year plan 2005-2009 over 4.2 billion Algerian Dinars designed for the promotion of traditional activities, while other investments worth USD 150 billion are set to be launched for developments in all sectors of activities.
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