The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its second meeting for the year 2004 in Cairo, Arab Republic of Egypt, during the period 9th - 11th June 2004. The meeting was chaired by H. E. Mr. AHMED ABDALLAH ELAKEIL, Chairman of BADEA’s Board of Directors, and in the presence of H. E. Mr. MEDHAT S. LOTFY, the Director General of BADEA.

The Board reviewed a number of important issues; foremost was the Director General’s report on the Bank’s activities during the period March - June 2004, in addition to a number of financial reports, current status reports on projects. The Board also approved the financing a number of new projects and technical assistance operations.

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, with a total amount of US $ 33.46 million, out of which US $ 31.90 million for project loans, while US $ 1.56 million was earmarked for technical assistance operations.

It is worth noting that by the end of June 2004, BADEA’s total cumulative financial commitments to African countries eligible for its aid, including the new commitments, will reach US $ 2814.058 million.

   The approved financing  projects for the benefit of the African Countries