Algerian farmers to receive guarantee fund and subsidised loans

Mar 03, 2011

It has been revealed by the Algerian Council of Ministers that farmers are to receive financial aid.

In a press release, the Algerian Council of Ministers has announced that the farming sector will receive a guarantee fund and subsidised loans.

This decision will help create new farms as well as enhance the land's value.

At a recent gathering, the Council of Ministers declared the allocation of one million DA per hectare of subsidised loans "to enhance the value of lands and create new farms".

During this council, which took place on the 22nd February 2011, the Algerian State also underlined the fact that food processing industrial plants will gain access to subsidised and term loans.

Those companies will then have the capacity of pre-financing stock farmers and cultivators.

While farmers will be able to have access to a bank guarantee framework, it will be establishments with "microcredits and graduated integration" that will help improve the advice given to farms.

All those measures will not only aid the development of the Algerian farming sector, but will also facilitate the access to bank loans by farmers.