A joint Saudi-Algerian statement was issued today in Algiers at the end of the two-day
visit, October 11 to 12, by Deputy Prime Minister and Commander of the National Guard Crown
Prince Abdullah Bin Abdul Aziz. During his visit, the statement said, Crown Prince Abdullah
expressed satisfaction over the progress made in restoring security and stability to the
country, and congratulated President Abdulaziz Boutaflika on the support given him by the
Algerian people in the September 16 referendum.
The two sides remarked on the recent steady growth in bilateral relations, and underscored
the importance of enhancing this in the areas of investment, trade and industry. In the
area of finance and banking, they expressed satisfaction at the effective role of the Saudi
Development Fund, especially as regard to irrigation and electric power generation. The
statement went on to report that following the official talks today a memorandum of
understanding for financing a number of development projects was signed by Finance Minister
Dr. Ibrahim Al-Assaf and Algerian Minister of Finance Dr. Abdelrahim Harshawi, in the
presence of Crown Prince Abdullah and President Bouteflika. The Saudi Development Fund,
established in 1974, has in the past contributed to the financing of a number of projects
in Algeria, including the port of Jijil, the dams at Al-Karkar, Ein-Al-Daliah, and Beni
Haroon, the power station at Hama, and low-cost housing in Algiers.
On leaving Algiers, Crown Prince Abdullah sent a cable of thanks to President Bouteflika,
expressing appreciation of the warm welcome from the Algerian people, noting that Saudi
Arabia and Algeria are linked with bonds of religion, kinship, and history, and saying: "We
are happy that our brothers in Algeria have worked together to close a painful and bloody
page in their history, and are trying to open a new page with a spirit of fraternity and
sacrifice ….. I pray Almighty God to preserve Algeria as a dignified, stable and
prosperous country."