The public treasury to finance real estate projects

The chairman of the Monetary Institutions' Association, Djamel Besaa has indicated that the national tpublic reasury can intervene to guarantee real estate’ loans with a low interest rate in accordance with the new measures included in the complementary law of finance for the current year.

• He indicated that the treasury could be the main supplier of these loans exclusively devoted to the civil servants, pending the upcoming new measures included in the next year’s law of finance.
• Talking on radio, the National Savings Bank general manager has declared that the current legislation will limit the action of other banks as concerns loans, but will give free way to the public treasury that will play the role of the main guarantor of this financial operation.
• As to the difference in the rates estimated at 1% in comparison with the other financial institutions, M Besaa has indicated that the government will stand for the extra charges in case where the legislation assigns the public banks to supervise this operation. He went on saying that the procedure will come into effect as from next January.
• M Besaa further added that the gross total of loans granted by the banks over the last years has surpassed 150 billion Algerian Dinars , 100 billion dinars were allocated by the National Savings Bank, while the privates have participated with the allocation  of 200 billion Algerian Dinars.