ADDIS ABABA – Sunday, 19 February 2023 (APS) – President of the Republic Abdelmadjid Tebboune has decided to grant USD1 billion to the Algerian Agency of International Cooperation for Solidarity and Development, in order to fund development projects in the African countries.
In a speech read on his behalf by Prime Minister Aïmene Benabderrahmane, during the 36th African Union Heads of State and Government Summit, whose works are underway in Addis Ababa, the President of the Republic affirmed that this move comes from “Algeria’s conviction that the security and stability in Africa are linked to development.”
“I have decided to inject one billion dollars into the Algerian Agency of International Cooperation for Solidarity and Development to fund development projects in the African countries, notably the projects of integration or those contributing to the acceleration of development in Africa,” said President Tebboune.
The Agency will start the procedures for the implementations of this strategic initiative in coordination with the African countries that want to benefit from it.