The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its Third meeting for the year 2005 in Dubai, United Arab Emirates, during the period 30 September to the second of October 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.

The Board reviewed a number of important issues; foremost was the Director General’s report on the Bank’s activities during the period July -September 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 $ 33.355 million, out of which US $ 32 million was earmarked for project loans, while US $ 1.355 million for technical assistance operations.

It is worth noting that by the end of October 2005, BADEA’s total cumulative financial commitments to African countries eligible for its aid, including the new commitments, will reach US $ 3004.582 million.

The approved operations for September 2005