Algeria receives UAE loan for power station

Algeria's Sonelgaz and the Abu Dhabi Development Fund signed on Wednesday an agreement for a $20 million loan at 3.5% interest annual, payable over 15 years, with which the Algerian company will help construct the Hamma power station, Algerian News Agency reported.

The $277 million station is being built with financing from the Islamic Development Bank, the Saudi Development Fund and the Arab Fund for Economic and Social Development, the report said.