Algeria is poised to receive $3 billion in financing from the Islamic Development Bank (IsDB) over the next three years, a major boost aimed at accelerating key infrastructure and development initiatives across the country.
Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank, made the announcement during an interview with Algeria’s Ennahar TV on Monday. He stated that the funding will support a series of strategic projects, including a significant expansion of Algeria’s railway network.
According to Al Jasser, the railway projects are a central element of President Abdelmadjid Tebboune’s broader economic vision, which seeks to improve connectivity between the country’s industrial and commercial zones. Enhancing transportation infrastructure is seen as a critical step toward unlocking economic growth, improving trade logistics, and facilitating access to remote regions.
The IsDB president emphasized the bank’s continued partnership with Algeria, noting that the institution remains committed to financing initiatives that align with the country’s national development goals. The $3 billion commitment is part of a broader collaboration aimed at strengthening Algeria’s economic foundations and advancing sustainable development.
The loan package, spread out over a three-year period, is expected to play a pivotal role in transforming Algeria’s infrastructure landscape and supporting long-term economic resilience.