April 24 2007 -- The lingering financing problems faced by Algerian farmers and peasants with the BADR bank seem to be on the verge of being settled definitively.

In so doing, the BADR bank has signed in Algiers with the Agriculture Ministry and the national mutual agriculture fund (CNMA) a binding convention for the financing of about 165,000 projects.

According to the bank’s General Manager, the financial package earmarked for the achievement of the 165.000 projects amounts to 115 billion Algerian dinars, with 34 million dinars granted directly to the farmers in the form of credits.

The remaining 80 billion dinars will be taken in charge by the national fund of regulation and agricultural development (FNRDA) as part of a program to speed up the revival of this vital sector of activity.