Algeria Secures Islamic Development Bank Loan to Expand Infrastructure
Algeria has secured a $3 billion loan from the Islamic Development Bank (IsDB) to be disbursed over the next three years, marking a significant boost to its infrastructure ambitions. The funding will primarily support the expansion of Algeria’s railway network, a cornerstone of President Abdelmadjid Tebboune’s strategy to connect the country’s economic zones and stimulate national growth. The initiative aligns with Algeria’s existing collaboration with China under the Belt and Road Initiative, aiming to triple the country’s rail network by 2030. The IsDB and Algeria are also enhancing their strategic partnership through a new framework focusing on competitiveness, sustainable growth, and regional cooperation. This deal underscores Algeria’s commitment to modernizing its infrastructure and fostering economic development.
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