Algerian Finance Minister Laaziz Faid recently met with Ahmadou Moustapha Ndiaye, the Director of Operations for the Maghreb and Malta at the World Bank. During their discussions, the minister underscored Algeria’s steadfast commitment to an ambitious economic reform program designed to promote sustainable and inclusive development, as outlined in a ministry press release issued on Friday.
The meeting, held on Thursday in Algiers, served as a platform to discuss the current status and prospects of cooperation between Algeria and the World Bank. This included a focus on supporting the government-initiated reforms and building upon the momentum established by the country in terms of reforms and economic diversification, according to the source.
Minister Faid introduced his counterpart—who is visiting Algeria for the first time since his appointment last July—to “the development strategy our country has adopted in key areas such as investment promotion, modernization of the banking and financial sector, digitization, and initiatives aimed at improving the business climate and fostering entrepreneurship.”
Regarding the relationship between Algeria and the World Bank, the minister expressed satisfaction with the variety of actions taken in collaboration with the institution. These efforts have particularly focused on enhancing public finance management, improving resilience to natural disasters, facilitating energy transition, promoting renewable energy development, and strengthening the education system.
Furthermore, he invited Ndiaye to “intensify the support from his institution in knowledge transfer and capacity building, which would assist Algeria in its extensive reform program,” as noted in the statement.
In response, Ndiaye praised the “exemplary” level of cooperation between the two parties, emphasizing “the effectiveness of established partnerships and the synergy that has yielded significant results across various areas of the Bank’s intervention in Algeria.”
He also expressed alignment with the minister’s vision to “develop workstreams that align with medium-term goals in support of the reforms undertaken by our country, thereby enhancing its resilience to current economic challenges.” He stressed the importance the institution places on promoting inclusive, sustainable, and job-creating economic growth, as stated in the report.
Finally, Ndiaye reaffirmed the World Bank’s readiness to continue supporting the policies adopted by Algeria as part of its development and economic diversification program.
