Current Date:

Sunday, 25 March 2018

BADEA’s Board of Directors winds up its 3rd meeting for the year 2017

The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), formally ended its 3rd meeting for the year 2017, held during the period 27-29 September 2017.  

The meeting was chaired by H.E. Engineer Yousif Ibn Ibrahim AL BASSAM, in the presence of H.E. Dr. Sidi Ould TAH, the Director General.

The Board reviewed a number of important issues; foremost was the Director General’s report on the Bank’s activities during the period July – September 2017, in addition to a number of financial reports.

The Board also approved new financing for the benefit of Sub-Saharan African countries, for a total amount of US$ 138.07 million, out of which US$ 40.550 million were allocated to finance 3 development projects, while US $ 2.520 million to finance 10 technical assistance operations, US $ 25.000 million was earmarked to finance two lines of credit, in addition to US $ 70 million for finance Arab Exports to African countries in the framework of BADEA’s Export Financing Scheme.

It is worth noting that BADEA’s total cumulative financial commitments to African beneficiary countries, including the new commitments, now stands at US$ 5.312,173 million.