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Investment: Algeria increases its subscription to the ADB

28/02/2024
Source : ORISHAS FINANCE
Categories: Sectors

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Under a similar decree published, Algeria plans to increase its subscription to the capital of the African Development Bank (AfDB) by 36,617 additional shares.

Presidential Decree No. 24-80 was signed by the President of the Republic Abdelmadjid Tebboune on February 14, 2024; It authorizes Algeria's subscription to ADB shares under the Bank's share transfer regulation. The payment of this subscription will be made from the funds of the Public Treasury in the forms provided for in the resolutions of the Board of Governors of the ADB dated, respectively, May 29, 1998, May 27, 2010, and October 31, 2019, and the resolution of the Bank's Board of Directors on October 31, 2019 and the resolution of the Bank's Board of Directors of November 21, 2019, and the resolution of the Bank's Board of Directors of 21 November 2023

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