The Arab Bank for Economic Development in Africa (BADEA) Monday gave Mauritius and Zambia two loans totaling US$17.40 million to enable both countries to finance development projects in the infrastructure and education sectors, the bank said in a statement made available to PANA here Tuesday.
Of the amount, US$12 million will go to Mauritius to help it improve the “Providence-flacq” road, which is part of the country’s priorities in the transport sector.
Upon completion, the road will help open up the project area, facilitate the movement of people and goods, reduce transportation costs, help develop economic and tourist activities in the area and make access to different service facilities easier, the statement said.
The latest loan brings to US$128 million BADEA’s total loans to Mauritius.
The remaining amount, US$5.40 million, will go to Zambia to finance the construction of the Sesheke Mathematics and Science University.
According to the bank, the project aims to increase the number of teachers being trained each year to teach mathematics and science in secondary schools.
The latest loan brings to US$116 million BADEA’s total loans to Zambia.