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Bank of Algeria Funds Transport Fleet Update
Algeria External Bank announced the launch of an investment loan to finance the renewal of the public passenger transportation fleet through the replacement of buses over 25 years old. The loan targets passenger transport professionals who hold the eligibility certificate from the Ministry of Interior and operating licenses. It covers up to 90% of the purchase cost with an annual interest rate of 5.5%. The program aims to promote modern transportation methods, reduce breakdowns, and assist in updating the sector in line with national standards.
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