SFD to fund Algeria housing project

Dr. Ibrahim Al-Assaf, Minister of finance and national economy, signed on behalf of the Saudi Fund for Development to extend a SR94 million loan to Algeria.

The loan will finance a housing scheme in the country. Algerian Finance Minister Mourad Medlsse represented the Algerian side. The houses will be built in the province of Gasantina, which experiences acute housing shortage.

The project is expected to be completed in 2004.