Algeria, November 29, 2017

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DZD 330 billion agreement to finance construction of 120,000 AADL housing units

A financial agreement of nearly DZD 330 billion has been signed Tuesday in Algiers between Housing Ministry, the Popular Credit of Algerie (CPA), the National Agency of Housing Improvement and Development (AADL) and the National Housing Fund (CNL) for the financing of 120,000 rent-purchase housing units.

The agreement has been inked by the Ministry’s Generel Director for Housing Kamel Nasri, CEO of CPA bank Omar Boudieb, General Manager of CNL Ahmed Belayat, and General Manager of AADL, Said Rouba, in the presence of Minister of Finance Abderrahmane Raouya and Minister of Housing, Urban Planning and City Abdelwahid Temmar.

Following the signing ceremony, Temmar told the press that the agreement constituted a 'fresh start' for the construction of 120,000 AADL housing units, registered in the government’s action plan.

The agreement will allow the launch in 2018 of the construction works of 120,000 AADL units and preventing delays, he said.

This programme is part of the President of the Republic’s 1.6- housing-units -programme for 2019.

As for him, Raouya said that the DZD 330 billion agreement followed three agreements signed for the financing of 300,000 housing units, including 120,000 last June.

The importance of this budget 'reflects State efforts to support the building of decent dwellings for the citizens,' concluded the minister.

The Finance Bill 2018, recently adopted by the People's National Assembly (APN), includes a capital budget for the housing sector, amounting to DZD141.9 billion.

Last September, Prime Minister Ahmed Ouyahia said that the 302,000 units is planned to be delivered in 2017.

aps



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