Government to open up a fund to finance housing projects

The Algerian Premier Ahmed Ouyahia ordered the public treasury to open a special account for the fund in charge of financing housing projects for families willing to acquire, build or expand their houses.

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• The move is meant by to offset the difference between the rates imposed on the banks and financial institutions and the rates implemented by the Algerian authorities to help the beneficiaries ranging from 1to 3%.
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• With the opening of this account, the public treasury would have given its go ahead to the banks that subscribed to the governmental decision to launch the program.
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• The government has assigned the task to the finance minister to supervise this account considering that the finance ministry is the sole party responsible for the financial matters.
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