Arab Bank earmarks $18m for projects in Guinea

Conakry- Guinea (PANA) -- The Arab Bank for Economic Development in Africa (BADEA) has earmarked US$18 million to undertake development projects in Guinea in 2006, the state-run radio reported here Saturday.
It quoted BADEA director general Medhat Samy Lofty as making the disclosure during a meeting with Guinean Prime Minister Cellou Dalein Diallo Friday.
Lofty said the money will fund infrastructure, agriculture and village water supply projects.
  He said the Bank would also disburse US$4 million for micro-projects and settlement of the nation's energy bill, noting that the Bank's delegation held discussions with several banks based in Guinea regarding the undertaking.
Lofty said BADEA cherishes its 30-year-old cooperation with Guinea, during which the Bank provided about US$120 million for development projects in the West African nation.

20 august 2005 16:17:00




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