The Ministry of Housing announced on Monday a significant financial agreement between the National Housing Bank (BNH) and six public banks to secure the resources needed for the construction of "AADL 3" housing projects.
According to a ministry statement, the National Bank for Housing (BNH) has partnered with six major public banks:
National Savings and Reserve Fund (CNEP)
National Bank of Algeria (BNA)
Foreign Bank of Algeria (BEA)
Bank of Agriculture and Rural Development (BADR)
Algerian People's Credit (CPA)
Bank for Local Development (BDL)
This collaboration will ensure the financial resources required to implement the "AADL 3" housing program, which aims to provide affordable housing solutions.
Key Details of the Agreement:
The first phase of the project involves the construction of 200,000 housing units, scheduled to begin in 2025.
The financing plan will cover 62% of the housing costs, while beneficiaries will contribute the remaining 38% in five installments.
This plan aligns with Executive Decree No. 24-203 of June 25, 2024, which amends and supplements earlier legislation on sale-by-rental housing.
This initiative demonstrates Algeria's commitment to addressing the housing demand and improving living standards by facilitating access to affordable housing under the "AADL 3" framework.
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