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BADEA board approves 6 new projects for African countries

The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) has approved financing for six new development projects and technical assistance operations for the benefit of several African countries, to the tune of US$38.29 million.

According to a communique issued after the board’s third meeting of the year 2008 in Khartoum, Sudan, 6-7 October, US$36.05 million of the amount was allocated to finance the six development projects, while US$2.24 million was earmarked to finance 10 technical assistance operations.

The beneficiary countries are Burkina Faso (US$8 million, Koudougou–Dedougou Road Project); Mauritius (US$10 million, Terr Rouge–Verdan– Iban Road Project phase II); Uganda (US$4.50, Second Line of Credit to Uganda Development Bank Limited) and Ghana (US$6 million, Radiotherapy and Nuclear Medicine Treatment Services Project).

Others are Benin (US$1.55, Additional loan for Health (1) Project) and Cameroon (US$6 million, Additional loan to Limbe Industrial and Marine Workshop).

The meeting was chaired by Mr. Yousif Bin Ibrahim Al Bassam, Chairman of BADEA’s Board of Directors, and attended by Mr. Abdelaziz Khelef, the Director General.

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