In a ceremony held at BADEA’s Headquarters in Khartoum, on Thursday October 20, 2005, a loan agreement was signed between the Republic of Senegal and the Arab Bank for Economic Development in Africa (BADEA). By virtue of this agreement BADEA extends to the Republic of Senegal a loan of US $ 4 million to help finance Louga Sanitation Project (Phase II).

The signing ceremony was attended by H.E. Mamadou SOW, Ambasador of the Republic of Senegal in Cairo, H.E. Ahmed Abdallah El-Akeil, Chairman of BADEA’s Board of Directors, and H.E. Medhat S. Lotfy, the Director General of BADEA.

The project aims at expanding the sewerage services in part of the Louga Town by constructing a drainage system for waste water. The project will contribute towards improving the living conditions of the population and reduce the health threat caused by polluted water. The project will also contribute to the protection of the environment.

The loan will be repaid in 30 years including a grace period of 10 years and at an annual interest rate of 1%.

With this new loan, the total commitments of BADEA to the Republic of Senegal will amount to US $ 195.585 million