BADEA’s Board of Directors held its fourth meeting for 2017

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Publié dans: 24 décembre 2017
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BADEA’s Board of Directors  held its fourth meeting for 2017 BADEA’s Board of Directors held its fourth meeting for 2017

 The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its 4th meeting for the year 2017, in London, during the period 13 -15 December 2017.

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

During meeting, Dr. TAH presented to the Board a statement on the Bank’s activities and achievements for the period October-December 2017. The Board also reviewed the financial report covering BADEA’s activities during the fourth quarter of the current year and a statement on the performance of investment portfolios for the same period.

 On the other hand, the Board reviewed the Bank’s administrative expenditure during 2017 and approved the administrative budget for the year 2018.

The Board also approved 11 new development operations to finance the following:

•             One project in public sector:         US $  15.000 million

•             3 operations in private sector:       US $  40.000 million

•             3 operations to financing Arab exports:  US $  90.000 million

•             4 technical assistance operations:          US $    1.22 million

 As regards the operational program for 2018, the Board approved a ceiling of US $ 230 million for financing projects in public sector, US $ 100 million for private sector operations and US $ 10 million for technical assistance operations, in addition to US $ 225 million for Arab Export to African countries.

 It is worthy to note that 2018, is the fourth year of BADEA’s Seventh Five Year Plan (SFYP) (2015 -2019), which the Bank allocated US $ 565 million for all its commitments for the next year.

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