signature d’une convention entre le ministère, la BNH et l’AADL pour le financement de la réalisation de la 1ere tranche
Summary of the Convention for Housing Development in Algeria
On Saturday in Algiers, a significant agreement was signed between the Ministry of Housing, Urban Planning and City, the National Housing Bank (BNH), and the Housing Improvement and Development Agency (AADL). This agreement seeks to establish the conditions and mechanisms for financing the first phase of the AADL 3 housing program, which includes the construction of 200,000 housing units.
The agreement was formalized at the BNH headquarters by key figures including Mr. Mohamed Mordjani, Director General of Housing at the Ministry; Mr. Ahmed Belayat, Director General of the BNH; and Mr. Riad Guemdani, Director General of AADL. The signing ceremony was attended by the directors of six public banks that form a banking consortium to finance the AADL 3 program.
Banking Consortium Composition
The involved banking consortium consists of several prominent institutions:
- Caisse Nationale d’Épargne et de Prévoyance (CNEP-Banque)
- Banque Nationale d’Algérie (BNA)
- Banque Extérieure d’Algérie (BEA)
- Banque de l’Agriculture et du Développement Rural (BADR)
- Crédit Populaire d’Algérie (CPA)
- Banque de Développement Local (BDL)
This consortium originated from a previous agreement signed in January, focused on ensuring financial resources necessary for the AADL 3 phase one project.
Financial Structure
The financing framework established by the consortium will cover 62% of the total housing costs. The remaining 38% will be the responsibility of the beneficiaries, who will make contributions divided into five installments.
Project Timeline and Progress
In a press statement, Mr. Mordjani emphasized that this agreement clearly defines the financing conditions and mechanisms for the initial phase of the AADL 3 program, with construction anticipated to begin within the current year. He also noted that the project is at an "advanced" stage, preparing for its launch.
Conclusion
This initiative represents a significant step toward addressing housing shortages in Algeria by leveraging public-private partnerships and aligning financial resources to facilitate the construction of affordable housing units.
