A team from the African Development Bank has launched a strategic dialogue with the Algerian authorities in Algiers, to prepare the National Strategy Document for the period (2025-2030).
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The task led by the resident representative of the bank’s office in Algeria continues to Saad Al -Ashhal, until tomorrow /Thursday, and it represents the start of a cooperation process aimed at determining future trends for the bank’s support for Algeria during the next five years.
Al -Ash’al stressed, according to a statement issued by the bank, that this task is an essential step in strengthening the partnership between the bank and Algeria, as it will allow the definition of priority areas jointly to support the country in its march towards more flexible, comprehensive and sustainable growth.
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This initiative is comprehensive; In addition to discussions with the national authorities, the bank’s mission will consult with representatives of the private sector, civil society and development partners, as well as the other main stakeholders, with the aim of collecting the data and information necessary to formulate an appropriate strategy that adapts to the aspirations of diversifying the Algerian economy, which depends heavily on hydrocarbons.
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The African Development Bank, through this initiative, confirms its commitment to supporting Algeria in its efforts to diversify the economy and create job opportunities and environmental transformation, in line with the United Nations goals for sustainable development for the year 2030 and the African Union plan 2063.
It is worth noting that the bank’s portfolio in Algeria is about 2.28 million dollars, and the financing in multiple sectors represents 47.3%, followed by the energy sector 42%, and the agricultural sector 10.7%.
