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النهار أونلاين
Bank of Algeria Starts Bus Replacement Funding
The External Bank of Algeria has announced the launch of an investment loan for replacing buses that are over 25 years old. This loan is aimed at transportation professionals (individuals or legal entities) involved in passenger transport. The loan covers up to 90% of the purchase price, including taxes, with a minimum contribution from the buyer of 10%. The annual interest rate is 5.5%, and repayment methods include quarterly installments, with the option for full or partial early repayment. To qualify for the loan, the financed bus must be pledged as collateral, and comprehensive insurance coverage is required. Additionally, applicants must provide documentation proving their eligibility, financial activity status, a feasibility study, and various insurances depending on the type of owner. The financing aims to support the renewal of bus fleets, reduce the age of vehicles, and enhance safety and quality in transportation.
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