Dakar- Senegal (PANA) -- Arab Bank for Economic Development in Africa (BADEA) Director-General, Abdelaziz Khelef, arrived in capital Antananarivo late Sunday for an official visit to Madagascar.
A BADEA communiqué availed to PANA Monday said Khelef's visit was in response to an invitation extended to him by the country's Minister of Finance and Budget.
The visit will involve coordination, exchange of views and identification of the needs and priorities of the country, in order to improve and enhance the existing cooperation between Madagascar and BADEA, the bank added.
The visit is within a regional tour by the Director-General to some Indian Ocean countries eligible for BADEA's assistance, which also includes the Republics of Seychelles and Mauritius.
During the visit, the Director-General will meet with the President of the Republic of Madagascar, Marc Ravalomanana.
In addition, he will hold working sessions with some ministers and government officials who are directly concerned with BADEA's cooperation.
The Meetings will review the current status of the mutual cooperation, the current status of the on-going projects and technical assistance operations, in addition to the development plans of the Government and its prioritised development operations for financing.
The possibility of outlining future programs of cooperation will also be considered.
On the other hand, the delegation of the Director-General will pay visits to some sites of projects financed by BADEA.
By the end of March 2007, Madagascar's total benefits from BADEA's financing amounted to bout US$119.
72 million, towards 28 development operations, in addition to US$1.
506 million as a provision to contribute to reducing its debt burden, within the framework of the HIPC Initiative.
BADEA's commitments to African countries south of the Sahara during the period 1975-2006 amounted to US$31.
74 billion, earmarked to finance 402 development projects, 376 technical assistance operations, in addition to 59 loans provided to African countries in support to their balance of payments.