Algeria’s central bank, La Banque d’Algérie, has introduced a new export credit scheme aimed at bolstering the nation’s export sector. The initiative, detailed in an instruction issued on August 10th, will enable banks to provide financial support to exporters. Specifically, the credit will address the cash flow needs directly related to executing export operations. The bank clarified that eligible operations include those conducted through irrevocable and confirmed letters of credit or remittances. This move is intended to facilitate and encourage Algerian businesses to increase their export activities. The scheme’s introduction signals the government’s commitment to diversifying the economy and strengthening its international trade position. Further details regarding specific conditions were outlined in the official instruction.