Dakar, Senegal (PANA) - The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) has rounded off its fourth ordinary meeting for 2011 in London, the Bank said in a statement.
The highlight of the three-day meeting was the approval of a ceiling of US$200 million for the Bank's project loans and technical assistance operations for 2012.
The 14-16 December meeting was presided over by the Chairman of the Board of Directors, Yousif Bin Ibrahim Al-Bassam, and attended by and Director-General Abdelaziz Khelef.
During the meeting, Mr. Khelef presented to the Board a number of reports, including the one on the Bank’s activities and achievements from October to December 2011.
The Board also reviewed the financial report covering the activities of the Bank during the third quarter of the year, and a report relating to the portfolio management performance for the same period.
BADEA was set up to strengthen economic, financial and technical cooperation between Arab and African countries.
-0- PANA SEG 19Dec2011