Spain grants 60m-euro loan for Algiers underground
2006-10-08
The Spanish government approved a loan of 60m euros for14 trains for the Algiers underground train system on Friday (October 6th) as part of the Development Assistance Fund. APS quotes a Spanish government statement as saying the loan intends "to promote Spanish goods and services exporting toward Algeria'' and to ''contribute to the development and the betterment of public transport in Algiers". (APS)
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Shanfara Posted 2006-10-08
How come we have US$ 70 bn in the bank thanks to the high prices of oil but still need US$ 60 m from Spain?
Lamia Posted 2008-08-30
This is ridiculous! Who could swallow this! LOL!
slim16 Posted 2008-09-02
Simply put, this behaviour is mercantile. Spain does not want to lose the sale of 14 trains so it is offering an even longer-term loan to them to pay for it. This is just about Spain not losing this market, because the trains cost 60 million euros.
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