BADEA's board meet in Algeria

-The Board of Directors of the Arab Bank for Econom-ic Development in Africa (BADEA) , finalised its first meeting for the year 2007 in Algeria late Saturday, the bank said Sunday.
The bank, in a media communiqué availed to PANA Sunday, said the meeting, which started on 21 March, was chaired by Ahmed Abdallah el-Akeil, who is also the chairman of BADEA's board of directors.
The meeting, the bank said, reviewed a number of important issues, among them the director-general's report on the Bank's activities during the period January – March 2007.
Others were a number of financial reports including one on the bank's activities during the third quarter of the year 2006.
The Board of Directors has also reviewed BADEA's Annual Report for the Year 2006 and the Auditors' Financial Report for the same year and the current project status reports.
During the meeting, the Board approved financing of a new batch of projects and technical assistance operations for the benefit of several African countries, totalling US$68.
4 million, out of which US$65.
9 million were allocated to finance 9 development projects, while US$2.
5 million were earmarked to finance 13 technical assistance operations.
BADEA's total cumulative financial commitments to African countries eligible for its aid, including the new commitments, now stands at US$ 3.
242927 billion.
The Board of Directors also approved the financing of 22 development operations for the benefit of African Countries.
The countries to benefit include Burkina Faso (US$12 million road project), Cote d'Ivoire (US$7 million bridge project), Kenya (US$4.
3 million sewerage project), Mali (US$9.
5 million road project), Mozambique (US$9 million), and Swaziland (US$1.
5 million).
Others are Tanzania (US$6 million), Chad (US$13 million), Guinea (US$3.
6 million), Togo (US$300,000), Sierra Leone (US$235,000), Ethiopia (US$150,000), Madagascar (US$235,000), and a series of regional projects all over Africa.

25 march 2007 11:42:00

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