BNA Offers 90% Financing for New Bus Acquisition

The National Algerian Bank (BNA) has announced a new financing program aimed at transport operators, both natural and legal persons, to facilitate the acquisition of new buses. This initiative is a component of the National Program for acquiring 10,000 buses, with the primary goal of replacing vehicles that have exceeded 25 years of service in the transport sector. The program underscores a commitment to modernizing Algeria's public transport fleet and enhancing service quality for citizens.

Under the new program, eligible transport operators can secure financing covering up to 90 percent of a new bus's value. Beneficiaries are required to contribute a personal share of no less than 10 percent. Eligibility for the financing includes actively engaging in transport operations, possessing the necessary licenses, and submitting a complete financing application along with all required documentation to the bank.

The BNA's financing package offers favorable terms, extending repayment periods up to 10 years, which includes an initial deferral period of up to six months. The annual interest rate or profit margin for the financing is set at 5.5 percent, exclusive of tax, with repayments structured into quarterly installments. This comprehensive program provides significant financial backing, enabling transport sector operators to renew their fleets and contribute to the ongoing development of Algeria's transport infrastructure.