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Signing of two agreements to guarantee operating loans to SMEs

ALGIERS - The Banque Extérieure d'Algérie (BEA) and the SME Credit Guarantee Fund (FGAR) signed two agreements on Tuesday in Algiers to guarantee conventional and Islamic operating loans for these companies, according to a statement from the public bank.

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The signing ceremony, which took place at the bank's head office, was presided over by the Acting Chief Executive Officer of BEA, Mr Mounir Belala, and the Chief Executive Officer of FGAR, El-Hadi Temmam.

Through these two agreements, which aim to strengthen cooperation, facilitate access to bank financing and support the growth of SMEs, the BEA is underlining its commitment to supporting SMEs and bolstering their financing capabilities, the same source adds.