Benin, Senegal gets BADEA loans

Khartoum- Sudan (PANA) -- Khartoum-based Arab Bank for Economic Development in Africa (BADEA) has signed two loan agreements estimated at seven million US dollars with Benin and Senegal, a BADEA press release said in the Sudanese capital.
Under one of the agreements Benin would receive 3.
15 million dollars for the Akpro-Misserete-Bonou-Kepedekpo Road Project, to link the country's agricultural south-eastern regions, with the national road network.
The agreement with Senegal is for a loan of 3.
80 million dollars to help finance the reclamation of irrigated areas in the Bakel Province, with a view to increasing agricultural production of cereals and vegetables.
The project seeks to reduce poverty and stem rural migration by creating seasonal and permanent job opportunities.
BADEA said both loans are repayable in 28 years, including a grace period of six years, at a one-percent interest rate.

16 september 2002 16:22:00




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