A $76.85 million loan agreement was signed Monday, June 2, 2003, between the African Development Bank (ADB) and Algeria to finance the Constantine highway bypass project- phase II project in Algeria. The project is part of the extension of the Constantine Highway Bypass Project and aims to improve the traffic flow by reducing transport costs, travel time and road accidents.
The ADB loan will be used to finance the construction of a 13-kilometer section of the highway—Ain El Bey- CW133 Section—with a three-lane dual carriageway 3.5 meters wide each and a 2.5 meter wide emergency lane for the Ain El Bey - RN3 interchange (six kilometers) section and a two-lane expandable to three-lane dual carriageway for the RN interchange -CW 133 interchange (seven kilometer) section.
The project will contribute to poverty alleviation in Algeria through increased capacity of road infrastructure that will promote national integration between the East, Center and West regions on the one hand and regional integration with countries of the Arab Maghreb Union on the other.
The project will also contribute to the development of principal urban centers and the country's agricultural and industrial activities and provide easier access to major economic centers.
Furthermore, the project will help reduce the unemployment rate particularly for the youth by creating 3,000 jobs in the Constantine region. Bank Group operations in Algeria started in 1971. To date, the Group has committed a total amount equivalent to two billion dollars. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
