Minister of Finance: “Banks seek to contribute to the creation of the largest possible number of job positions” – Al-Hiwar Al-Jazaeryia

The Algerian Agency for Investment Promotion organized, this morning at the headquarters of the National Fund for Housing, the activities of the study day on banking support for investment. This is in coordination with the Professional Association of Banks and Financial Institutions.

The forum began with a speech by the Minister of Finance, Aziz Fayed, who confirmed the size of the various loans and financial leases granted by banks and financial institutions. Allocated to finance the national economy amounted to no less than 10 thousand billion Algerian dinars.

Fayed explained, while supervising a study day on financing and bank accompaniment for investment projects, that 70 percent of this figure is intended for investment.

He added that banks seek, through financing investment projects, to contribute to creating the largest possible number of job positions. Strengthening economic competition and strengthening the national economy and its ability to improve products.

Banks also seek – adds the minister – to accompany national institutions to export abroad, especially the continent of Africa, by virtue of Algeria’s geographical location.

He also assured Aziz Fayed that such goals require teamwork and perseverance in the service of the national economy.

For his part, the Director General of the Algerian Agency for Investment Promotion, Omar Rakach, confirmed that investment is the main driver for wealth creation and job creation, adding that there were 2,812 investment projects in the amount of 1014 billion dinars, or nearly $7 billion.

The head of the Professional Association of Banks and Financial Institutions, Zahr Latrash, also pointed out that business leaders and employers are partners in economic development through wealth creation and added value. Stressing that the first and last goal is to develop the national economy.

It is noteworthy that the forum concluded with the signing of a partnership agreement protocol between the Algerian Agency for Investment Promotion and the General Directorate of Taxes.