The African Development Bank (AfDB) has affirmed its readiness to support Algeria in financing its strategic projects. This commitment was underscored by the President of the AfDB Group, Sidi Ould Tah, during a meeting with Algeria’s Minister of State, Minister of Petroleum and Mines, Mohamed Arkab.
Ould Tah lauded Algeria’s promising experience in hydrocarbon exploitation and transformation, seawater desalination, and infrastructure development. He expressed the Bank’s desire to replicate this experience across the African continent, focusing on the exploitation and valorization of strategic minerals at both local and continental levels.
He also conveyed his appreciation for Algeria’s development vision under the leadership of President Abdelmadjid Tebboune, highlighting the country’s progress in various economic and social domains, as well as its pivotal regional role in Africa. This sentiment was relayed in a statement issued by the Algerian Ministry of Petroleum and Mines.
The AfDB Group President reiterated his organization’s appreciation for Algeria’s strong support for the Bank, pledging to deepen bilateral partnerships and support initiatives that foster economic integration and shared development across the continent.
During the meeting, Arkab and Ould Tah explored avenues to strengthen cooperation between Algeria and the AfDB Group, particularly in priority areas such as the development of oil and gas industries, the valorization and transformation of mineral resources, and seawater desalination projects. They also discussed the financing and support of structural projects with a continental dimension.
Arkab outlined the development programs overseen by his ministry, focusing on hydrocarbon development and transformation, mineral resource valorization, and manufacturing projects in general. He also detailed major projects in phosphate exploitation and transformation, as well as Algeria’s efforts to enhance its seawater desalination capabilities.
Furthermore, Arkab emphasized Algeria’s commitment to strengthening African-African cooperation in sustainable energy, increasing production capacity, and promoting regional integration to serve the continent’s development. He reaffirmed Algeria’s willingness to share its expertise in hydrocarbon exploration and transformation, and to extend the Algerian experience in Liquefied Petroleum Gas (LPG) distribution.
