The Director General of the Arab Bank for Economic Development in Africa (BADEA) , Mr. Abdelaziz Khelef, will pay an official visit to Madagascar from 21-24 August, 2014, to assess progress made in BADEA’s projects in the African country.
During his stay, Khelef will pay a courtesy call on the Malagasy President, Hery Rajaonarimampianina.
He will also hold meetings with the Malagasy Minister of Finance as well as with other Ministers and officials responsible for monitoring and implementing BADEA’s Operations in Madagascar.
The main objective of these meetings is to review the future cooperation between the Bank and the Republic of Madagascar.
BADEA interventions in Madagascar commenced in 1975, with its financial commitment totalling US$135.8 million over 32 development projects.
BADEA financings have been diversified to cover the infrastructure sector, agriculture (livestock and crop production), rural development (electrification and potable water), energy, industry, social sector and the private sector including lines of credit. In addition to technical assistance operations, provided since 1995 under the form of grants.
BADEA’s assistance focuses on operations targeting poverty alleviation, food security environmental protection and encouraging women’s participation. Similarly, BADEA has improved loans lending terms by increasing the grant element in loans taking into account the critical economic situation of African countries.