Senegal: BADEA’s Board of Directors approves financing for new projects

Dakar, Senegal (PANA) - The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), meeting 4-6 March in Doha, Qatar, its first meeting for the year 2015, has approved financing for a new batch of projects and technical assistance operations, totalling US$ 113.565 million, PANA reported here, quoting BADEA sources.

The sources said that of this amount, US$ 111.2 million are allocated to 10 development projects, while US$ 2.365 million would be earmarked for eight technical assistance operations in sub-Saharan African Countries.

The sources said that the board also approved two lines of credit within its programme to finance Arab exports to sub-Saharan African countries.

These project financing, according to the sources, had taken BADEA's cumulative financial commitments to African beneficiary countries from 1975 to March 2015 to US$ 4.643.448 million.

The meeting is being chaired by Yousif Bin Ibrahim AL BASSAM, Chairman of the Board of Directors, and attended by Mr. Abdelaziz KHELEF, the Director General of the Bank.

The Meeting tackled a number of financial reports, including a report covering the fourth quarter of 2014, a report on the Bank’s activities for the period January-February 2015 and the Bank’s Annual Report for 2014.

Preparations for the 40th annual meeting of the Board of Governors, which is supposed to take place in Kuwait, in April 2015, also formed part of the Board’s agenda.
-0- PANA VAO 5March2015

05 Março 2015 16:07:15




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