The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its second meeting for the year 2005 in Cairo, Arab Republic of Egypt, during the period 15th - 17th June 2005. 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 2005, in addition to a number of financial reports, and 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 $ 44.904 million, out of which US $ 42.5 million for project loans, while US $ 2.404 million was earmarked for technical assistance operations.

It is worth noting that by the end of June 2005, BADEA’s total cumulative financial commitments to African countries eligible for its aid, including the new commitments, will reach US $ 2971.227million

The approved operations for June 2005