In Algeria, the partnership between IFC and Fertial, an IFC investment client, has resulted in improved productivity for approximately 650 small and medium-sized farmers and better access to high quality services, such as soil analysis and technical
IFC’s strategy in Algeria focuses on supporting improvements in the investment climate, helping develop the financial sector, encouraging private participation in infrastructure, and supporting the manufacturing and services sector.
In the 2013 fiscal year, IFC committed $62 million in Algeria, including mobilization from other investors. In the last fiscal year, IFC:
Provided a $100 million loan and helped arranged up to $400 million in other financing for natural gas producer Petroceltic, helping it ramp up operations in Algeria, among other countries.
IFC’s previous initiatives include:
A $14 million investment in Maghreb Leasing Algeria, the second-largest leasing firm in the country, to support the company’s growth plans and increase leasing finance to small and medium enterprises.
A $24 million in equity investment and $26 million loan to cement maker ASEC Algeria to support the construction of a cement plant that was to create more than 1,000 jobs.
IFC Advisory Services in the country focus on furthering the growth of small and medium enterprises and strengthening the agribusiness sector. IFC has:
Launched an effort to provide corporate governance training to business, an initiative designed to help firms improve their performance and attract investment;
Provided expert advice to Fertial, the largest fertilizer company in Algeria; and
Supported the country’s financial sector by working with the World Bank to help Algeria’s central bank create a credit registry, helping develop the first leasing company in the country, and strengthening banks’ abilities to lend to small and medium enterprises;
Advised private sector bodies on starting a dialogue with the public sector.