BADEA EXTENDS US $ 10 MILLION TO MALAWI
BADEA EXTENDS US $ 10 MILLION TO MALAWI BADEA EXTENDS US $ 10 MILLION TO MALAWI

BADEA EXTENDS US $ 10 MILLION TO MALAWI

The Arab Bank for Economic Development in Africa (BADEA), has been signed in Addis Ababa, a loan agreement for US$ 10 million, for the benefit of the Republic of Malawi to finance “Karonga Town Water Supply” project.

The ceremony of the signature took place in Addis Ababa, Ethiopia, Friday 23rd November 2018, on the sidelines of the “First Arab-Africa Trade Promotion Forum” held on 22 and 23 November 2018.

The project aims to provide potable water to all citizens and communities in urban and rural areas in Karonga Town by improving the existing Karonga Water Supply System to meet the current and future needs of potable water in the project area, therefore improve the health and livelihoods of the residents of Karonga Town and in-turn contribute to the economic development of Malawi.

The agreement was signed by H.E. Eng. Yousif Ibrahim Al Bassam, Chairman of the Board of Directors on behalf of BADEA, while H.E. Chimango Edward Chirwa,Malawi Ambassador to Ethiopia and Representative to African Union signed on behalf of the Republic of Malawi. It is worth-mentioning that, by the end of June 2018, BADEA’s total financial commitments to the Republic of Malawi reached US $ 112.5 million, while the total commitments of the Arab National and Regional Development Finance Institutions stood at US $ 356 million till June 2018.

It is worth-noting that BADEA’s total cumulative financial commitments to 44 Sub-Sahara African countries stands at US$ 6202.488 million, until end of September 2018.

Read 195 times
Login to post comments
Subscribe to our newsletter
Top
Шаблон скачали с сайта JooMix.org
We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…