§ Mr. Denzil Davies
To ask the Secretary of State for Foreign and Commonwealth Affairs how much aid, by way of grant, loans, credit or otherwise, has been provided to Algeria by the European Community or European Union and their institutions in the last four years.
§ Mr. Baldry
European Community support to Algeria is provided through its programme of grant and European Investment bank loan funded assistance to the mediterranean region and loan financed balance of payments support.
Under the Community's mediterranean programme, through the fourth financial protocol, 1992–96, Algeria is eligible for 350 mecu, or £276 million, comprising 280 mecu or £220 million, EIB loans, 18 mecu, or £14.2 million, risk capital and 52 mecu, or £41 million grant aid. By the end of January 1995, 88 per cent. of the budget funds had been committed and 64 per cent. of the EIB 289W loans. Algeria has also received a loan of 55 mecu, or 43.3 million, from the mediterranean structural adjustment facility as balance of payments support.
Since 1991, Algeria has been granted a total of 600 mecu, or £473 million, loan funded balance of payments support. Of this, 400 mecu, or £315 million, was agreed in 1991 and a further 200 mecu, or £157 million, subject to continuing compliance with its IMF programme, in December 1994. The first tranche of the further 200 meco—100 mecu, or £78.9 million—has already been disbursed.