The World Bank has approved a $16.5 million loan to fund a project to modernize the infrastructure of Algeria's financial systems.
In a statement from its headquarters in Washington on July 27, quoted by Washington File, the bank said the project aimed, among other things, to modernize Algeria's interbank payments system, create an electronic clearinghouse for future low-value payments systems, and modernize the information and knowledge management systems of the Bank of Algeria.
In a related document, the World Bank reported on the results of four projects to help the poor in the Middle East and North Africa.
In the Emergency Response Program for the West Bank and Gaza, the bank said the $12 million grant approved in December 2000 had activated more than 200 microprojects to repair and construct schools, clinics, water and wastewater networks, and roads. The bank said that so far, the program had created more than 120,000 person workdays.
In the Emergency Drought Recovery Project for Morocco, the bank said the project helped Morocco increase grain production sharply, brought clean drinking water to nearly 200,000 rural people and supported the construction or rehabilitation of 1,650 kilometers of rural roads.
In Tunisia, the bank said the Hospital Restructuring Reform Support Project had helped to greatly reduce the cost of hospital operations while improving service quality.
In Yemen, the Social Fund for Development is supporting projects in a variety of areas such as rural water, roads, basic education and primary health care. The fund was established in 1997 and is scheduled to operate until 2003.
In June, the World Bank announced the Lebanon Community Development Project, which it described as a way to “help improve living conditions for poorer communities by improving access to basic social and economic infrastructure, including education, health and physical environment services.” – Albawaba.com
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