BADEA’s BOARD OF DIRECTORS APPROVES NEW OPERATIONS

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BADEA’s BOARD OF DIRECTORS APPROVES  NEW OPERATIONS BADEA’s BOARD OF DIRECTORS APPROVES NEW OPERATIONS

The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its 1st Meeting for the year 2018, in Port Louis, Mauritius, during the period 28 February to 02 March 2018.

The meeting was chaired by H.E. Engineer 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.

The Meeting tackled several financial reports including a report covering the fourth quarter of 2017, a report on the Bank’s activities for the period January-February 2018 and the Bank’s Annual Report for 2017.

During this meeting, the Board approved financing of a new batch of commitments for some of Sub-Sahara African Countries, for total amount of US $ 85.460 million, out of which US $ 81.500 million were allocated to finance 6 projects in public sector, while US $ 3.960 million was earmarked to finance 13 technical assistance operations.

Preparations for the 43rd annual meeting of the Board of Governors, which is supposed to take place in the Dead Sea, Hashemite Kingdom of Jordan, during 10-11 April 2018, also formed part of the Board’s agenda.

It is worthy to note that by adding these new financings, BADEA cumulative financial commitments to 44 African beneficiary countries since 1975 up to March 2018 amounted to US $ 5824,768 million.

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