Cairo, Egypt (PANA) - The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) will hold its second meeting for the year 2011 in Hurghada, Egypt, from 22-24 June, 2011.
According to a BADEA press statement, the meeting will review the report of its Director General on the Bank’s activities during the period March–June 2011, and the bank's financial reports.
The Board of Directors is expected to approve financing of a new batch of projects and technical assistance for the benefit of several African countries.
PANA recalls that during its first meeting, the Board approved to finance new set of projects and technical assistance in some African countries to tune of US$ 94.3 billion, out of which US$ 91.7 billion were allocated to finance 11 development projects, and US$ 2.6 billion earmarked to finance 10 technical assistance operations.
Since it commenced operations in 1975, the total allocations of BADEA to all the African countries reached US$ 4038.572 trillion by March 2011.
-0- PANA PR/VAO 14June2011