Dakar- Senegal (PANA) -- The Director General of the Arab Bank for Economic Development in Africa (BADEA), Abdelaziz Khelef, is expected to arrive at the Burkinabe capital Ouagadougou Thursday as part of a regional visit covering Burkina Faso, Niger and Mali.
During his visit to Burkina Faso, Khelef will be received by President Blaise Compaore, before he meets with the Minister of Finance and Budget, as well as other high-ranking government officials.
Their discussions will focus on cooperation between Burkina Faso and BADEA, with the objective of exploring the best means to promote and develop mutual relations and realise the goals of development in Burkina Faso.
While in Burkina Faso, the Director General of BADEA will sign a loan worth US$2.
32 million to finance the project of reinforcement of plant protection and the agricultural products stored in Liptako Gourma area, which is a regional project located between Burkina Faso, Mali and Niger.
By the end of December 2006, BADEA's assistance to Burkina Faso reached the sum of US$155.
829 million to finance 42 development operations.
Moreover, a total of US$ 16.
299 million has been allocated by BADEA as contribution toward reducing the external debt of Burkina Faso under the HIPC initiative.
BADEA's financing operations have grown since 1975, to reach US$ 3174.
52 million by the end of December 2006.
These include loans provided through SAAFA (Special Arab Aid Fund for Africa) amounting to US $ 214.
2 million, and have been earmarked to finance 402 development projects, 374 technical assistance operations, 26 loans for the private sector and 14 special operations (in the context of Emergency Aid Programme operations for the benefit of several African countries effected by drought and desertification), in addition to 59 loans extended through SAAFA.
BADEA's operations cover all 43 eligible countries in Sub-Saharan Africa, in addition to a number of regional organizations.
They cover infrastructure, agriculture, rural development, energy, industry, social and financial sector in the form of project loans and technical assistance grants.
The projects selected by BADEA are directed towards improving the living conditions of the target beneficiaries, particularly those projects related to rural development and environment, such as rural water supply and sewage, or those aiming at reducing negative impact of drought and desertification, and reducing poverty.