algeria investment budget

President Director General of the External Bank of Algeria said his bank will be allocated 363 billion dinars worth of loans (5 billion dollars) during the period from 2010 to 2012 to finance a number of economic activities. 
In a statement, "that the bank adopted a triangular scheme 2010 - 2012 which will be allocated a cover fee of 363 billion dinars (5 billion dollars) of loans to be allocated to the funding of all branches of economic activity." 


Will go more than half of this amount 53.6 per cent), or 194 billion dinars) for public companies according to an official of this bank, which financed more structured projects in Algeria, as well as national industrial complexes. A second tranche of 141.5 billion dinars, equivalent to 39 per cent of the total value of that scheme financial institutions and small and medium industries, which the bank plans to promote investment, while the benefit of the household sector and people from loans worth 26.9 billion dinars, or 7.4 per cent of the total value. 


The value of loans granted by the bank to finance the national economy 100 billion dinars in 2009, the figures adopted by the General Council of the bank held the end of June last. 


In another context, said the bank had achieved the year 2009 growth and development he translated the profits achieved during the year Alvartp, which amounted to 33.87 billion dinars (466 million dollars), an increase of 51 per cent for 2008 and total revenues of the activities of the value of 2184 billion dinars (31 billion U.S. dollars) . 


He commented: "These results enabled the bank to absorb the implications of external shocks and by adopting the basic specialties and improvement for the organization and its consequences at the level of financial resources, as well as customers." For the first time has pushed the bank to the public treasury 20 per cent of any undistributed profits of 6.8 billion dinars, pursuant to a shareholder reward, which entered into force in 2009. 


The same official said the Bank of Algeria the outside, which was adopted in the previous 92 per cent of its financial resources on hydrocarbon resources has been successful under a policy of diversification pursued to reduce this ratio to 52 per cent in 2009, representing 48 per cent of the remaining financial resources for other types of customers Kalmwssat, families and properties, and estimated the financial resources of the Bank Disamar the end of 2009 the value of 1652 billion dinars. 


At the level of international activity retained Bank superiority treat rate of 22.6 per cent of the total national import, where he opened the 8939 letter of credit against 2919 in 2008, a pace upward continued during 2010, reaching 7895 message during the first five months of the current year according to the numbers the same charge.