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HomeAfricaMorocco: BADEA Board approves US$60m development projects

Morocco: BADEA Board approves US$60m development projects

The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) has approved financing for new development operations to the tune of US$60.60 million.

Out of the amount, US$57.50 million will be spent on financing the projects while US$3.10  million has been earmarked for technical assistance operations, the Bank said in a statement made available to PANA here Monday.

It said the approval was given at the second meeting of the Board for 2014 in Casablanca, Morocco, 11-13 June.

With the new approval, BADEA’s total financial commitments to African countries since 1975 amount to US$4.6 billion.

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