Nigeria: BADEA to spend US$ 320m on technical assistance in 2016

Lagos, Nigeria (PANA) - The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), at its fourth meeting for the year 2015 in London from 16-18 December, said it will not spend more than US$320 million to finance projects and technical assistance operations in the new year (2016).

This is addition to the US$ 200 million set aside for Arab Exports to African countries next year.

A statement issued after the meeting, which was received by PANA here, said the ceiling followed a review of the bank's administrative expenditure in 2015 and the approval of the administrative budget for 2016.

The meeting was presided over by Yousif Bin Ibrahim Al Bassam, the BADEA Chairman.

The year 2016 is the second year of BADEA’s Seventh Five-Year Plan (SFYP) (2015 -2019), for which the Bank has allocated US$ 520 million for all its commitments in 2016.
-0- PANA VAO 21Dec2015

21 december 2015 13:49:38

xhtml CSS