Cote d'Ivoire: BADEA, Côte d’Ivoire sign US$12m loan deal

Abidjan, Cote d'Ivoire (PANA) - The Arab Bank for Economic Development in Africa (BADEA) and Côte d’Ivoire have signed a loan agreement amounting to US$12 million for financing a water supply project to Abengourou city and surrounding villages, PANA reported Wednesday.

The pact was signed on Tuesday by BADEA’s Director General Sidi Ould Tah, who is currently visiting Cote d'Ivoire, and the Ivorian Minister of Economy and Finance Nialé Kaba.

The loan repayment period is 30 years, including a grace period of 10 years and an annual interest rate of 1%.

The latest agreement brings BADEA’s total financing in Cote d'Ivoire to US$123.5 million.

PANA reports that BADEA was established in 1973 and began operations in 1975.

The Sudan-based Bank is owned by 18 Arab member countries of the League of Arab States (LAS).
-0- PANA SEG 16Sept2015

16 september 2015 14:03:26

xhtml CSS