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June 1, 2024 | 1 year ago

Algeria holds a privileged position and plays a very active role within the African Development Bank (ADB).

Algeria, which holds a privileged position in the shareholding of the African Development Bank (AfDB), plays a very active role within this institution in achieving its objectives, emphasized Laaziz Faid, Minister of Finance, on Thursday in Nairobi, Kenya.

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Algeria, a founding member of the AfDB, holds a significant position as the third-largest regional shareholder. This grants the country a permanent seat on the Board of Directors, enabling active participation in key decisions. Algerian representatives ensure alignment with development priorities, monitor project implementation, and advocate for transparency and accountability within the AfDB.


The Minister emphasized the need for reform in the international financial architecture, crucial for Africa's prosperity. He highlighted the importance of alternative financing sources and inclusive governance. Algeria's efforts to diversify partnerships include accession to new Multilateral Development Banks (MDBs), offering opportunities for local businesses to engage in international projects.


Algeria's presence within MDBs strengthens its commitment to international cooperation, particularly in South-South cooperation. The country's recent increase in capital subscription to the AfDB and official membership in the EBRD demonstrate its proactive approach to global collaboration. The ongoing accession process to the NDB signifies Algeria's dedication to expanding its role in international development initiatives.

June 2, 2024 | algeria-logo