European Investment Bank lends Algeria 225 million for water pipeline
The European Investment Bank (EIB) on Tuesday, November 13 said it was lending Algeria 225 million euros ($200 million) for construction of a drinking water pipeline to supply the greater Algiers and Kabylie regions.
The loan by the EIB, the European Union's financial institution, will go to the Algerian Development Bank, which will put the money at the disposal of the Agence National des Barrages (national dam agency), and the Ministry for Water Resources, the EIB said in a communique. It said the work will be carried out in 2002-2006.
Algeria was struck on Sunday by an unusually violent storm which killed at least 579 people and has left 24,000 others in distress, according to estimates by the Red Cross and Red Crescent. Most of the casualties occurred when massive mudslides tore through a poor neighborhood of Algiers. — (AFP, Luxembourg)
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