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African Development Bank board approves 900 mln euro loan for Algeria

Reuters
Power transmission lines are seen near Batna, Algeria October 7, 2015. REUTERS/Zohra Bensemra (Reuters)

ABIDJAN (Reuters) - The African Development Bank's board approved a 900 million euro ($1 billion) loan for Algeria on Wednesday aimed at supporting reforms to help the North African nation confront falling oil revenues, it said in a statement. The money will support the government's efforts to improve domestic revenue mobilisation and the investment climate as well as boosting the efficiency of the energy sector and promoting renewable energy. ($1 = 0.9013 euros) (Reporting by Joe Bavier; Editing by Matthew Mpoke Bigg)