BADEA credits five African countries US$26.08 million

Dakar- Senegal (PANA) -- The Arab Bank for Economic Development in Africa (BADEA) Monday signed separate loan agreements totalling US$26.
08 million for Central African Republic, Benin, Chad, Guinea and Kenya.
A press release from BADEA said the five loan agreements signed Monday in Cairo were based on easy terms and aim at contributing to financing development projects in these beneficial African countries.
Out of the US$26.
08 million, Central African Republic has $3.
33 million to finance a health centre project.
The project aims at providing and expanding the health services in the country, in general and improving the health of women and children in particular.
This will be realised through expanding the health centres in six provinces of the country and by reducing the death incidents occurring during pregnancy and labour, and through creation of awareness among the population of the targeted provinces.
Additionally, the project is expected to reduce poverty in the project areas.
In the total sum, Benin has $1.
85 million to finance Akpro–Missérété- Kpédékpo road project.
The project aims at connecting the isolated south-eastern part of the country through provision of access road to ensure reliable and safe transportation of agricultural products from this part of the country to the market places in the Capital and to the port of Cotonou.
The project will minimise cost of transportation for the people and the commodities and reduce cost of maintenance of the current ground road.
Chad will receive $13 million to finance Bokoro - Arboutchatak road project.
The project aims at expansion and integration of asphalt roads networks to connect the areas that cross with other parts of the country.
The construction of the road will minimise cost of transportation of passengers and goods and will contribute to reduce poverty.
The project will also aim at connecting Arab and African countries.
Guinea is to receive $3.
60 million to build two feeder roads to connect the principal Matoto - Dabompa trunk in Conakry.
The project aims at facilitating transport of passengers and goods in Conakry and between Conakry and the rest of the Guinean towns.
Kenya has $4.
30 million to finance Garissa City Sewerage Project.
The loan will be repaid in 30 years, including a grace period of 10- year, and at an annual interest rate of 1%.
The project aims at contribution in the improvement of the hygienic conditions of Garissa City by construction of new treatment sewerage system, in addition to the reduction of River Tana pollution result ing from direct sewerage disposal in the river.
BADEA Board of Directors chairman, Ahmed Abdallah Al-Akeil signed the agreements in the presence of Abdelaziz Khelef, Director General.
Each loan will be repaid in 30 years, including a 10-year grace period, and at an annual interest rate of 1%.
Officials designated by the respective beneficiary countries signed their agreements.
They are Sylvain Maliko, Minister of Economics, Planning and International Cooperation for Central African Republic; Edouard O.
Aho-Glele, Benin's Ambassador to Addis Ababa and Permanent Representative of African Union; Ousman Kalibou Bella Chad's Ambassador to Egypt; Hadja Aminata Koïta, Chargée d'Affaires of Guinea Embassy in Cairo and Mutua Kilaka, Financial Secretary, Ministry of Finance of Kenya.
BADEA's total commitments to these five beneficiary countries amounted to about US$ 460.
034 million, by the end of March 2007.
BADEA's total commitments for the 43 African beneficiary countries during the period March 1975 to March 2007, stands at US$3242.
927 million, to finance projects and technical assistance operations.
The amount also includes loans provided by SAAFA (Special Arab Aid Fund for Africa) amounting to US$214.
2 million and the funds allocated through Heavily Indebted Poor Countries Initiative (HIPC).

05 june 2007 13:39:00




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