BADEA approves funding for African projects

Dakar- Senegal (PANA) -- The Board of Governors of the Arab Bank for Economic Development in Africa (BADEA) has approved 11 new development aid agreements worth 33.
46 million US dollars.
Some 31.
90 million US dollars of the amount are loans for projects, while 1.
56 million dollars will serve as technical assistance, official sources said Monday.
According to a statement issued by the second meeting of its Board for 2004 held in Cairo, Egypt, from 9 to 11 June, the agreements bring the accumulated amount of BADEA financing to non-Arab African countries to 2,814,058 million US dollars at the end of June 2004.
The meeting, presided over by chairman Ahed Abdallah l-Akeil and the director general of the bank, Medhat S.
Lofty, also reviewed the financial reports of the institution as well as the situation of ongoing projects, the statement added.

14 june 2004 13:05:00

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