Arab bank spends $3 billion to Africa

Nouakchott- Mauritania (PANA) -- The Arab Bank for Economic Development in Africa (BADEA) had approved about US$2.
814 billion to finance projects in the continent by late June 2004, indicates a document obtained by PANA here Friday.
Out of this amount, $214.
2 million were disbursed through the Special Arab Fund for Assistance to Africa, the document says.
The money was used to finance 352 development projects, 319 technical assistance operations, 28 private sector loans, 14 emergency aid operations in several African countries affected by drought and desertification, while 59 were given under the special aid programme.
BADEA provided about $77 million in the form of institutional technical assistance, the document added.
Some 43 African countries and several regional organisations are eligible to BADEA loans to finance infrastructure, agriculture, rural development, rural electrification and water supply, roads, fishing and other projects.
BADEA was created in Algiers, Algeria in November 1973.

23 july 2004 18:26:00




xhtml CSS