Dakar, Senegal (PANA) - The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) has approved projects worth US$48.948 million for several African nations.
The bank said in a statement issued after its board meeting in Khartoum, Sudan, this week that US$46.100 million of the amount would be used to finance development projects in six African countries - Burkina Faso, Benin, Cote d'Ivoire, Niger, Togo and Chad.
The balance of US$2.848 million will be used to finance 11 technical assistance operations in Central African Republic, Uganda, Cameroon, Liberia, Mauritius, Mozambique, Seychelles, Senegal, Cape Verde, Guinea and the Great Lakes Countries.
The latest approvals bring BADEA’s total financial commitments to African countries eligible for its aid to US$4.144 billion covering 523 development projects and 526 technical assistance operations.
BADEA is an independent international institution established by 18 Arab States in February 1974 for the purpose of strengthening the African-Arab cooperation and linkages.
Its projects benefit African countries that are not members of the League of Arab States, as well as regional organisations.
-0- PANA SEG 20Oct2011