ALGIERS – Algerian Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, received on Monday a delegation from the Asian Infrastructure Investment Bank (AIIB), headed by Jin Liqun, to discuss prospects for cooperation in areas of strategic priority.
The meeting was held in the presence of several senior officials from the Ministry.
The meeting provided an opportunity to explore prospects for cooperation between Algeria and the Asian Infrastructure Investment Bank in areas of strategic priority, particularly hydrocarbons and mining, seawater desalination, and industrial infrastructure, through the support and financing of major projects with economic and environmental significance, the Algerian Ministry of Hydrocarbons and Mines said in a statement.
In this regard, Minister Arkab delivered a comprehensive presentation on the sector’s major development programs, highlighting recent legal and regulatory reforms governing hydrocarbons and mining activities, which offer substantial incentives and advantages for investors. He also emphasized Algeria’s commitment to diversifying its national economy and advancing industrial transformation by developing processing industries and increasing the added value of its natural resources. Moreover, he outlined the sector’s efforts to reduce carbon emissions and promote the energy transition, reaffirming Algeria’s role as a reliable player in ensuring regional and global energy security, the statement said.
In the same context, the Algerian minister discussed major structural projects currently underway, including the Gara Djebilet iron ore mine, the Integrated Phosphate Project, the zinc and lead exploitation project, as well as seawater desalination projects.
For his part, Arkab reiterated the importance of cooperation and support from the Asian Infrastructure Investment Bank in light of the development momentum underway in Algeria, particularly in the sectors of hydrocarbons, mining, and seawater desalination plants. He also presented a detailed overview of the key ongoing projects in these areas.
In turn, the President of the Asian Infrastructure Investment Bank, Jin Liqun, delivered a presentation outlining the bank’s mission and activities, noting that Algeria was one of the first countries to join the institution following its establishment in 2015. He explained that the bank, which now includes 105 member countries and is headquartered in Beijing, finances major projects in sectors such as energy, transportation, renewable energy, and regional connectivity, with successful examples across Asia and Africa, the statement added.
Jin Liqun also expressed his satisfaction with the level of dialogue and cooperation with Algeria, praising the clarity of its vision for the development of the hydrocarbons and mining sectors, and reaffirming the bank’s interest in supporting Algeria’s future projects.
It is worth noting that the Asian Infrastructure Investment Bank (AIIB) is an international financial institution established in 2015, with a capital of $100 billion. Its mission is to finance sustainable infrastructure projects and support green energy and smart cities.
The bank also contributes to financing development projects in Africa, such as energy and water initiatives in Egypt, Kenya, Ethiopia, and Côte d’Ivoire. It aims to expand its investments in the Middle East and North Africa, with a particular focus on clean technologies and sustainable development.
