New financing from BADEA to the  Sub- Sahara African countries New financing from BADEA to the Sub- Sahara African countries
Written by  Jul 06, 2018 - 111 Views

New financing from BADEA to the Sub- Sahara African countries

The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its 2nd meeting for the year 2018, in Tangier, kingdom of Morocco, during the period 20-22 June 2018.

The meeting was chaired by H.E. Engineer Yousif Bin Ibrahim AL BASSAM, Chairman of BADEA’s Board of Directors, in the presence of H.E. Dr. Sidi Ould TAH, the Director General.

The Director-General’s presented to the Board a report on the Bank’s activities and achievements covering the during the second quarter of 2018, and some reports on the financial performance system for the same period.

The Board also approved financing several new development operations totaling US $ 247.46 million dollars, details of these operations as follow: -

            US $   85.000 million for financing public sector project;

            US $   55.000 million earmarked for Private Sector;

            US $ 105.000 for financing for Arab exports to African countries;

            US $   02.460 million for financing technical assistance operations.

It is worth- noting that by adding these new financings, BADEA’s total cumulative financial commitments to African countries eligible for its aids since 1975 till the June 2018 reached US $ 6072.228 million.

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