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 The Board of Directors of the Arab Bank for Economic
Development in Africa (BADEA) held its first meeting for the year 2004 in its
Headquarters in Khartoum, Republic of Sudan
during the period 3rd
to 5th of March 2004. The meeting was chaired by H.E. Mr. AHMED
ABDALLAH EL-AKEIL, Chairman of BADEA’s Board of Directors, and in the presence
of H.E. Mr. MEDHAT S. LOTFY, the Director General.
The Board reviewed a number of important issues; foremost was
the Director General’s report on the Bank’s activities during the period
January – February 2004, in addition to a number of financial reports, current
status reports of projects. The Board approved the financing of some new
projects and technical assistance operations.
The Board of Directors also reviewed BADEA’s Annual Report
for the Year 2003 and the Auditors’ Financial Report.
In the field of financing of projects and technical
assistance operations, the Board approved the financing of a new batch of
operations for the benefit of several African countries, for a total amount of
US $ 80.925 million, out of which US $ 78.400 million were allocated for
projects loans, while US $ 2.525 million were earmarked for technical
assistance operations.
It is worth noting that by the end of March 2004, BADEA’s
total cumulative financial commitments to African countries eligible for its
aid, including the new commitments, will reach US $ 2780.598 million.
The approved financing projects for the benefit of the African Countries
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