BADEA raises capital to 2,200 million dollars

Khartoum- Sudan (PANA) -- The Khartoum-based Arab Bank for Economic Development in Africa (BADEA) has decided to increase its total capital from 1,500 million dollars to 2,200 million dollars as of April 2004, according to a report released here Tuesday.
In its 29th session held recently in Kuwait, the Board of Governors approved a five-year plan for the exploitation of BADEA's resources for the period 2005-2009.
According to the plan, 900 million dollars will be allocated non- Arab African countries in the coming five years, provided maximum commitments of the bank do not exceed 160 million dollars in the first year of the plan.
The sum would increase by 10 million dollars annually till it reaches 200 million dollars in the last year.
The report said priorities in the five-year plan include agriculture, rural development and infrastructure, industry, energy, health, education and environment.
Other priority sectors are poverty alleviation, food security and women's empowerment.

11 may 2004 20:11:00




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