Algeria’s Finance Minister Abdelkrim Bouzerzour called from New York for a new approach to development financing, urging international financial institutions to genuinely share responsibility rather than leaving developing nations to bear the bulk of financial risks — a situation he told dzwatch is “neither fair nor equitable.”
Speaking at the UN Development Financing Forum (April 20–24), the minister stressed that “the challenge is no longer the volume of financing, but its effectiveness,” noting that developing countries continue facing the same obstacles despite multiple funding mechanisms.
He demanded stronger representation for developing nations in global financial decision-making, reflecting a fair international balance of power.
The minister also highlighted Algeria’s solidarity efforts, including debt cancellation for several countries, financial grants to vulnerable states, and the establishment of a National Agency for International Development Cooperation with an initial budget of $1 billion targeting African development projects.
He concluded by calling for a shift “from financing logic to results logic, and from unilateral to shared responsibility.”
