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Abdelmadjid Tebboune Authorizes Algeria’s Subscription To The EBRD’s Shares

August 17, 2021

The President of the Republic, Abdelmadjid Tebboune, authorized Algeria’s subscription to the shares of the European Bank for Reconstruction and Development, according to publication 61 of the Official Gazette.

This Presidential Decree No. 21-309 stated that “the President authorizes, within the limits of two hundred and three (203) shares for the People’s Democratic Republic of Algeria to subscribe to the capital of the European Bank for Reconstruction and Development under its accession to this institution”.

The source clarified that the process of contributing to the People’s Democratic Republic of Algeria is carried out according to Regulation No. 231 of July 10, 2020 (the list of Algeria’s accession as a member, approved by the Bank’s Board of Governors) from public treasury funds.

Algeria officially joined the European Bank for Reconstruction and Development, according to the Presidential Decree 21-185 signed by President Abdelmadjid Tebboune on May 5, 2021.

The European Bank for Reconstruction and Development is an international institution based in London and had 69 members as of July 2019. This multilateral development bank provides financing to support development in member countries.

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