Minister of Agriculture, Rural Development, and Fisheries, Yacine Walid, received a delegation from the International Finance Corporation (IFC) on Sunday at the ministry’s headquarters. The delegation was led by the IFC Vice President for Africa, Ethiopis Tamara.
During the meeting, both sides discussed ways to strengthen the partnership between Algeria and this international institution, as well as prospects for enhancing cooperation, particularly in agricultural investment.
A summary was presented regarding Algeria’s strategy for developing and modernizing the agricultural sector to enhance food security. This involves encouraging local and foreign investment in the production, processing, and export of agricultural products, given the country’s potential to achieve self-sufficiency in many currently imported goods.
In this context, the Algerian experience in developing Saharan agriculture and the country’s shift toward modern and sustainable farming were highlighted. This prompted the IFC to offer potential technical and financial support for agricultural projects in Algeria, specifically in enhancing production efficiency, enabling exporters to adopt international quality standards, accessing new markets, and establishing a specialized agritech business incubator to support innovative projects.
The meeting also addressed the issue of financing the agricultural sector and the possibility of the IFC supporting the Ministry of Agriculture in creating new and modern financing mechanisms.
Furthermore, the two parties discussed agricultural insurance and its role in protecting farmers and stabilizing production.
At the conclusion of the meeting, both sides agreed to continue consultations and organize technical work sessions to develop a practical partnership plan aimed at boosting investment and supporting sustainable development in Algeria’s agricultural sector.
Reference: link
