Algeria To Expand Agricultural Financing In 2025

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Algeria's Finance Minister Laaziz Faid announced on Thursday (19) in Algiers that starting in 2025, all public banks in the country will offer credit to agribusiness. The goal is to expand the range of financial products and boost the sector's productivity, state news agency APS reported.

“2025 will mark the launch of financing aimed at the agricultural sector across all public banks, according to agreements to be signed between the Ministry of Agriculture, Rural Development and Fisheries and each financial institution,” Faid said during a plenary session.

The purpose of this measure is to expand credit availability for agribusiness, enabling banks to develop specific financial products for this purpose. Another goal is to boost productivity among rural producers.

Faid cited the Agricultural and Rural Development Bank (BADR) as an example, noting it currently accounts for 95% of the loans granted to the sector. This year, BADR provided DZD 26.1 billion (USD 194.2 million) to the country's agribusiness. Of this total, DZD 20.8 billion (USD 154.7 million) were allocated to the 2024/2025 planting campaign, while DZD 5.3 billion (USD 39.4 million) were dedicated to developing strategic agricultural crops.

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Translated by Guilherme Miranda

©AFP

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