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The Ministry of Public Works and Basic Installations clarified on Wednesday evening in a statement that funding for the Laghouat-Ghardaia-Mneaa-Ain Salah-Tamanrasset railway project is distributed into two sections, according to specific financing formulas for each.
The ministry’s statement came as a “correction to what was circulated regarding Algeria’s abandonment of financing by the Islamic Development Bank for the railway project.”
The Ministry indicated that the first section of the project, linking Laghouat, Ghardaia and Mnaia, at a distance of 495 km, is financed by the African Development Bank and the Asian Infrastructure Investment Bank.
While the second section, the link between Menea, In Salah and Tamanrasset, at a distance of 1,080 km, is entirely funded from the state budget.
“Accordingly, the source of financing for the first section is the African Development Bank and the Asian Infrastructure Investment Bank, while the state is responsible for financing the second section from its own budget,” he continues. Statement.
Before adding that consultations between the Islamic Development Bank and the African Development Bank are still ongoing regarding financing other priority sections of railway projects. He stressed, “continuing cooperation with international financial institutions in this field.”
