Sudan: BADEA extends US$9m-loan to Burkina Faso

Khartoum, Sudan (PANA) - The Khartoum-based Arab Bank for Economic Development in Africa (BADEA) said it had signed a US$9 million loan agreement with Burkina Faso to help fund the construction and provision of equipment for the Technical Science Unit and Hostel in “OUAGA II” University.

BADEA said in a statement issued here Sunday that the project would contribute to the completion of the construction of facilities and processing unit for science and technical construction and equipping of university housing for students.

The statement said Dr. Sidi Ould Tah, BADEA’s Director General, signed for the bank while Mr. Lassane Kabore, Director General of Cooperation, Ministry of Economic and Finance, signed for Burkina Faso at a ceremony held at the bank’s head office in Khartoum, Sudan.

The loan is payable in 30 years, including a grace period of 10 years and at an annual interest rate of just 1%.
-0- PANA MO/SEG 8Nov2015

08 Novembro 2015 14:01:05

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