H.E.Mr. Medhat S. Lotfy, Director General of the Arab Bank for Economic Development in Africa (BADEA) arrived Monday 8th August 2005, at Freetown, capital of the Republic of Sierra Leone, as part of a regional visit to the Republics of Côte D’Ivoire, Mali, and Guinea during the month of August 2005.

During his visit to the Republic of Sierra Leone, the Director General was received by H.E. the President of the Republic of Sierra Leone and the Vice President, he also met with Honourable Minister of Finance and other high-ranking officials.

Talks covered the mutual cooperation between the Republic of Sierra Leone and BADEA, with the objective of exploring the various means of promoting and developing this cooperation and realizing its objectives. In this regards arrangements were made to execute the financing of Western Area Power Generation Project (Phase I).

By the end of June 2005, BADEA’s assistance to Sierra Leone reached US $ 43.765 million to participate in financing 9 development projects.

BADEA’s financing operations have expanded since 1975, reaching US $ 2971.227 million by end of June 2005; this includes the loans provided through SAAFA (Special Arab Aid Fund for Africa) amounting to of US $ 214.2 million. The allocations have been earmarked to finance 373 development projects, 345 technical assistance operations, 26 loans for the private sector, including 14 special operations (in the context of Emergency Aid Programme benefiting several African countries effected by drought and desertification), in addition to 59 loans extended through SAAFA.

BADEA’s commitments to the technical assistance operations reached, during the same period, US $ 82.876 million dollar, until end of June 2005 earmarked to finance feasibility studies and institutional support activities.

BADEA’s operations cover all the 43 eligible countries in Sub-Saharan Africa, in addition to a number of regional organizations. The operations cover infrastructure, agriculture and rural development, rural water, electricity, rural roads, animal and fish production, energy, industry, social and the banking sector over and above technical assistance operations.

The projects selected by BADEA are those, which are directed towards improving the living conditions of the people and easing the pressure on them and reducing poverty, particularly those projects related to rural development and environment such as rural water supply and sewage, or those aiming at reducing negative impact of drought and desertification. This is obviously in line with current approaches to development.