The African Development Bank (AfDB) has approved a loan of US$76.85mn, to finance the
- Constantine highway bypass project, phase II (Ain El Bey – CW133 Section) 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 AfDB loan will be used to finance the construction of a 13km section of the highway with a three-lane dual carriageway of 3.5m wide each and a 2.5m wide emergency lane for the Ain El Bey – RN3 interchange (6km) section and a two-lane expandable to three-lane dual carriageway for the RN interchange -CW 133 interchange (7km) section.
The project will contribute to poverty alleviation in Algeria through increased capacity of road infrastructure that will promote national integration between East, Centre 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 centres and the country’s agricultural and industrial activities and provide easier access to major economic centres. Furthermore, the project will help reduce the unemployment rate particularly for the youth by creating 3,000 jobs in the Constantine region.
The AfDB loan will be used to finance the foreign exchange costs of the project whose total cost is estimated at UA 84.27 million, the equivalent of US$111.46mn.
Bank group operations in Algeria started in 1971. To date, the group has committed a total amount equivalent to US$2.51bn on 33 operations. Of this amount, about US$1.38bn have been disbursed.