BNA Finances, published by the National Bank of Algeria (BNA), has named COFACE as the first credit-insurer operating in Algeria.
The same source added that COFACE is one of two institutions to accept the direct coverage on energy companies Sonelgaz and Sonatrach, without bank guarantee: the other is the Organisation for Economic Co-operation and Development (OECD).
In Algeria, COFACE offers short-term credit insurance for consumer goods, and medium-term credit for insurance, investment and construction.
Algeria is COFACE’s fifth-highest market for medium-term discounted bills, due to the volume of commercial exchanges between France and Algeria. In 2001, it was in second place of new guarantees.
Source: Algerian News Agency
