CPA Unveils 90% Financing for New Transport Buses

Crédit Populaire d'Algérie (CPA) recently announced a new financing scheme designed to support professionals in the collective passenger transport sector. This initiative is part of a broader government effort to renew Algeria's national bus fleet, particularly targeting vehicles older than 25 years. The program is available to both individuals and legal entities operating authorized collective transport activities, enabling them to acquire new buses from approved suppliers.

The financing package covers a significant portion of the acquisition cost, providing up to 90% of the all-inclusive price. Beneficiaries are required to make a minimum personal contribution of 10% of the vehicle's cost. The repayment period for this financing can extend up to 10 years, offering flexibility to transport professionals. Additionally, the program includes a six-month repayment grace period and an interest rate of 5.5%, excluding taxes.

CPA has encouraged interested transport professionals to visit its dedicated agencies for further information and guidance on realizing their acquisition projects. The bank also states that details regarding the necessary documentation and the specific agencies involved in this financing program are accessible on its official website, ensuring comprehensive support for applicants.