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World Bank welcomes Algeria’s economic performance
Laaziz Faid receives Osmane Dione:
The Vice President of the World Bank (WB) in charge of the Middle East and North Africa (MENA) region, Osmane Dione, congratulated Algeria for its economic performances which allowed it a better reclassification by the Bank, describing them as a “model of success” recognized internationally, indicated the day before yesterday Tuesday a press release from the Ministry of Finance.
Mr. Dione was speaking during an audience with the Minister of Finance, Laaziz Faid, the same source said, adding that “this meeting was an opportunity to exchange views on the two parties’ visions in terms of economic development, in a global context characterized by multifaceted crises.”
In this context, the WB Vice President congratulated Algeria for “the performances recorded and recognized by the international development community” and which have recently allowed a better reclassification of Algeria’s position, describing them “as a model of success that deserves to be shared with other countries in Africa and the MENA region.”
Mr. Dione highlighted on the occasion “the potential of Algeria as an important player in the MENA region thanks to its geopolitical stability, its economic dynamics, its human resources and youth, its geographical position, its regional connectivity, its potential as a logistics hub and its access to European, African and Arab markets”, according to the press release. Regarding the cooperation relations between Algeria and the WB, he expressed his “firm desire to breathe new life into this relationship and to take note of the needs expressed by Mr. Faid in favor of strengthened collaboration, particularly in the areas of knowledge sharing, capacity building, and technical support”. He also expressed the availability of his institution to broaden and deepen this partnership with Algeria, by taking advantage of its wide range of technical support and advice instruments, while aligning with national priorities.
On another level, Mr. Dione presented an update on the progress of the process initiated by the WB aimed at ensuring its evolution and adaptation to contemporary challenges. In this sense, he shared with the Minister of Finance his vision and action plan to support the countries of the MENA region in order to face the challenges they are facing, the statement said.
For his part, Mr. Faid presented to the WB official “the trajectory taken by Algeria for sustainable and inclusive development, guided by realistic objectives included in the Government’s Action Plan and resulting from the 54 presidential commitments.”
“This trajectory,” he continued, “has led Algeria to undertake an ambitious program of structural reforms in key areas, and to review certain fundamental texts of its legal arsenal governing the business environment.”
“Our country continues to pay particular attention to strengthening economic governance, fighting corruption and improving public morality, as prerequisites for the success of any reform and with a view to consolidating the foundations of solid and equitable economic growth,” he said.
Djamila Sai