Algeria will spend $100 million to buy pharmaceutical products to have enough stock to face the novel coronavirus pandemic. The announcement was recently made by the President, Abdelmadjid Tebboune (pictured).
This amount will be used to “accelerate the importation of all pharmaceutical products in sufficient quantities, and even more protective equipment and chemical analysis (testing) kits, with the involvement of [Algerian] diplomatic missions in the search for their exporters across the world,” APS reports. The government is expecting another $132 million from the IMF and the World Bank.
With more than 139 recorded cases, Algeria is one of the most affected countries on the continent. Since the beginning of the pandemic, the government has adopted a series of measures to slow the spread of the virus and mitigate its effects. Budget spending will be reduced by 30% (without affecting charges and salaries) while the country's import bill will drop from $41 billion to $31 billion.
Since March 22, 2020, Algeria has officially entered stage 3 of the pandemic, which means that from now on, the virus is actively circulating in the country.
Moutiou Adjibi Nourou
AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...
Fruitful partners with Elsewedy unit to launch processing project in Egypt New facility wil...
Investment bank BCID-AES established in Bamako Bank aims to fund infrastructure, agricultur...
This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...
Standard Bank extended a USD 138 million facility to STEP, acting as sole arranger and advisor to ...
Inclusive AI deployment could add up to $1 trillion to Africa’s GDP by 2035, the AfDB said. The report lays out three scenarios, with...
Government partners with Yas to deploy campus Wi-Fi hotspots Rollout starts in Antananarivo and Tuléar before expanding nationwide Project aligns with...
Egypt unveils first locally produced Nasr Star minibuses El Nasr Automotive restarts production after more than 15 years Vehicles made with over 70%...
Trial phase begins with arrival of CMA CGM HELIUM Terminal targets capacity of up to 3.5 million TEUs per year Project supports Egypt’s push to become...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...