AFRICA: The African Development Bank (AfDB) has been designated as Algeria's key international partner in the country's renewed efforts to secure external financing for major development projects. This milestone was highlighted during President Dr. Sidi Ould Tah's visit to Algeria, where he met with President Abdelmadjid Tebboune. Dr. Ould Tah praised the decision, emphasizing it as a strategic step forward in Algeria's development and its partnership with the Bank.
Key Projects and Objectives
1. Laghouat-Ghardaïa-El Meniaa Railway Line: A $2.8 billion project spanning 495 km, marking the first phase of the Trans-Saharan Railway corridor. This railway will enhance connectivity between northern and southern Algeria and provide a vital link for landlocked Sahel countries.
2. Railway Expansion: Algeria aims to double its railway network to 10,000 km by 2030 and eventually reach 15,000 km. This expansion will reduce transportation costs and integrate isolated regions.
3. Industrialization and Value Addition: Algeria targets increasing local processing of hydrocarbons from 30% to 60% by 2035, supported by a $60 billion investment plan. The country also aims to expand its petrochemical, hydrogen, and gas derivative industries.
4. Mining Sector: Algeria is positioning itself as a leader in extracting and processing critical minerals like iron, zinc, gold, and rare earths. The Trans-Saharan Railway will support the logistical needs of these projects.
Energy and Water Security Efforts
- Desalination Plants: Algeria operates 19 desalination plants, with five more units set to come online by 2027, aiming to meet 60% of national water needs by 2030.
- Clean Energy: The country’s LPG distribution model is highlighted as a valuable contribution to Africa’s clean energy transition, providing 75% of households with LPG.
Partnership Highlights
Dr. Ould Tah expressed strong support for Algeria's ambitions, emphasizing the alignment with the AfDB's strategic vision. He called for a coordinated approach across African nations to protect and sustainably enhance the continent's critical mineral resources. The AfDB's partnership with Algeria underscores the country's execution capacity and vision for industrial transformation.
By strengthening this partnership, Algeria and the AfDB are poised to drive significant development projects, enhancing regional connectivity, industrial capacity, and energy security. This collaboration marks a pivotal moment in Algeria's development trajectory and its role in Africa's transformation.
