THE EUROPEAN INVESTMENT BANK WILL HELP EU COMPANIES TO SET UP IN ALGERIA   Leave a comment

The European Investment Bank (EIB) “wants to help European companies to set up in Algeria”.
So announced in Algiers the deputy chair of the EIB, Philippe de Fontaine Vive.
”We want industry leaders to set up in Algeria,” APS quoted him as saying. ”We are ready to finance European companies lacking the necessary capital” to have a presence in the country. The EIB also has new financing plans for Algerian SMEs.
During his visit to Algiers, de Fontaine Vive has had a meeting with Abdelaziz Belkhadem, the personal representative of the country’s President.
Since 1980, the European bank has provided Algeria’s public sector with loans worth a total of 2.2 billion euros. Following Algeria’s decision not to use more international credit, the Bank has intervened with aid aimed solely at the private sector since 2005.
In March 2009, the EIB granted a 500 million eurs loan for the financing of the gas pipeline, Medgaz, which is due to connect Algeria and Spain. (ANSAmed).

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Posted January 12, 2011 by newworldconsulting in Uncategorized

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