BADEA approves US$200m ceiling for 2013

Dakar, Senegal (PANA) - The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) has approved a ceiling of US$200 million for the Bank's projects in 2013.

The approval was made at the Fourth Meeting of the Board for the year 2012, held in London 19-21 Dec.

PANA reports that the meeting, the last for the year, was presided over by Board Chairman Yousif Bin Ibrahim Al Bassam.

During the meeting, Bank Director-General Abdelaziz Khelef presented to the Board the report of its activities and achievements from October to December 2012.

The Board also reviewed the financial report covering the activities of the Bank during the third quarter of the year.

Based in Khartoum, Sudan, BADEA was established in 1973 to strengthen economic, financial and technical cooperation between the Arab and African regions.

The mandate includes the financing of economic development in African countries, stimulating the contribution of Arab capital for Africa's development and providing the technical assistance required for the development of Africa.
-0- PANA SEG 24Dec2012

24 décembre 2012 10:18:38

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