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The Algerian Democratic and People.s Republic

 Development of Social Housing in the Central Region

 

Loan No.: 396 Interest Rate: 4.5 %
Beneficiary: Ministry Of Housing and Re-mortgage Finance Grace Period: 5 years
Project Cost: KD 43.1 million Maturity: 22 years
Amount of Loan: KD 35.0 million Repayment: 35 semi-annual installments
Date of Loan Agreement: 14/10/2000 First Installment: 5 years following the first disbursement
Date of Effectiveness: -    

 

Objectives:

The project aims at alleviating the housing shortage in Algeria by satisfying some of the demand for low and middle-income housing. This will be accomplished by providing housing for about 6,000 qualified families in the central region and by providing housing loans to 2,000 of these families.

Description:

The project, which is expected to be completed by the end of 2003, consists of two parts. The first part covers the construction of 6,000 low and middle-income housing units, including the preparation of land, connecting the various utilities thereto, the provision of consulting services for the preparation of technical studies, along with the supervision of the works and institutional support. The second part consists of providing a line of credit for supplying mortgage loans for low and middle-income citizens allowing them either to buy or build their dwelling. The details of each part are as follows:

First Part:

The project will be located in the central region and will encompass the states of Greater Algiers, Tipazza, Bou-Merdas and Blida, those regions being the worst hit by the housing shortage in the country. A total of 75,000 hectares, owned by the government, has been allocated for the construction of the units. This part of the project encompasses the following basic components:

1- Construction work for the various dwellings: This includes the construction of about 6,000 housing units in the form of six-story high-rise buildings, with each apartment having a square area of 30 to 60 m2.

2- Preparation of land and connection of services: This include~ all necessary works involved in the preparation of the allocated land that is intended for the construction of buildings, as well as service connection works, including connections to drinking water, sewerage facilities, electrical and telephone services and pavement of roads, in such a manner as to coincide with the availability of the units.

 3- Execution studies: This includes the preparation of studies pertaining to the execution of the dwelling units, as well as the preparation of designs, bid documents, and the evaluation of tenders.

4- Supervision of works: This includes the consulting services necessary for the follow-up on the execution of construction works.

5- Institutional support: This includes the acquisition of computers, the modernization of the administrative and financial systems, and the training and qualification of the Ministry's employees.

Second Part:

This includes providing a line of credit to a mortgage re-finance company allowing it to supply secondary medium and long-term banking and institutional loans to families interested in either purchasing the built units or building their own dwellings.

Financing:

The Arab Fund loan covers around 81% of the total cost of the project. The Algerian Government will finance the remaining costs.

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