SFD to fund Algeria housing project

ALGIERS, 25 October — Dr. Ibrahim Al-Assaf, minister of finance and national economy, signed on behalf of the Saudi Fund for Development to extent a SR94 million loan to Algeria here on Tuesday. The loan will finance a housing scheme in the country. Algerian Finance Minister Mourad Medlsse represented the Algerian side. The houses will be built in the province of Gasantina, which experiences acute housing shortage. The project is expected to complete in 2004.