Dakar- Senegal (PANA) -- The board of governors of the Arab Bank for Economic Dev elopment in Africa (BADEA) has increased its capital from US$ 2.
2 billion to US$ 2.
8 billion effective from April 2009, according to an official statement made a v ailable to PANA here Tuesday.
According to the statement, the increase was made through re-capitalization with US$ 600 million from the general reserve.
"Thus, with a subscribed and paid capital of US$ 231 million in 1975 and US$ 2.
8 billion in April 2009, BADEA member countries show their willingness to support and strengthen the role of the institution in consolidating the Arab-African coo p eration," the statement added.
BADEA finances all its operations from its own financial resources.
The statement said the increase in the capital was decided at BADEA board of gov ernors' ordinary meeting held in Jordan from 15 to 16 April 2009.