Omar Rakkash: Funding sources must be provided – Al-Hiwar Al-Jazaery

The Director General of the Algerian Investment Agency, Omar Rakkach, confirmed through the Dialogue Forum that financing sources must be provided, because even the procedures for granting loans must take into account the time factor, especially since the latter has become a factor of production, because international bodies abroad give value. For the speedy provision of loans.

The spokesman explained that the procedures for providing building permits are what delayed the provision of loans, and for this reason, facilitating access to financing includes the cost of loans, and it is not possible for banks to continue their activities and their rates are high.

In the same context, Rakash revealed that the Algerian state provided a facility within the framework of the preparation of the monetary and banking law that is being discussed in the parliament, which will necessarily lead to a solution to this issue by presenting larger financing offers at a lower cost and with more special smoothness and decriminalization of management, even In the banking sector, which constitutes an obstacle to the spirit of initiative because of fear and hesitation.

The Director General of the Algerian Investment Agency explained that some projects require a large volume of financing, and the problem that constitutes a real obstacle that delays investment operations must be eliminated.

In this regard, the same speaker said, “When we talk about the language of numbers, we see that the structure of project financing is almost equal to the investor’s private funds at a rate of 50 percent, and this does not encourage investment and that the investor is required to contribute 50 percent.”