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BADEA DG begins regional tour

The Director-General of the Arab Bank for Economic Development in Africa (BADEA), Mr. Abdelaziz Khelef, arrived in Dar Es Salaam on Sunday at the start of a regional visit that will also take him to Lesotho and Swaziland.

While in Tanzania, the Director General will be received by the President of the Republic and Minister of Finance and Economic Planning, as well as other high-ranking officials.

BADEA said in a statement made available to PANA here Monday that the visit would focus on the mutual cooperation between Tanzania and the Arab Bank, with the objective of exploring the various means of promoting and developing it.

Mr. Khelef will use the opportunity offered by the visit to inspect projects financed by BADEA in Tanzania.

The programme of the visit also includes signing a loan agreement for financing the construction of two secondary schools in Zanzibar at the cost of US$6 million.

By the end of October 2008, BADEAs assistance to Tanzania will reach US$128.17 million covering 28 development projects.

Since 1975, BADEA has spent millions of dollars on 450 development projects, 438 technical assistance operations, 30 loans for the private sector, including 14 special operations (Emergency Aid Programme benefiting several African countries affected by drought and desertification) and 59 loans extended through the Special Arab Assistance Fund for Africa (SAAFA).

BADEA’s operations cover 43 countries in sub-Saharan Africa, in addition to a number of regional organisations.

The operations cover infrastructure, agriculture and rural development, provision of potable water and electricity to rural communities, construction of rural roads, animal and fish production, energy, industry, social and the banking sector.

BADEA finances only projects that are geared towards improving the living conditions of the people and reducing poverty.

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