BADEA’s Board of Directors Holds its First Meeting for the Year 2006 and Approves Financing of US$ 100.015 Million The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its first meeting for the year 2006 in the Republic of Tunisia during the period 15 to 17 March 2006. The meeting was chaired by H.E. Mr. AHMED ABDALLAH EL-AKEIL, Chairman of BADEA’s Board of Directors, 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 January – March 2006, in addition to a number of financial reports including one on the bank’s activities during the third quarter of the year 2005 and the Auditors’ Financial Report for the same year. The Board of Directors has also reviewed BADEA’s Annual Report for the Year 2005 and the current project status reports.
The Board approved financing of a new batch of projects and technical assistance operations for the benefit of several African beneficiary countries, for a total amount of US$ 100.015 million, out of which US$ 97.400 million were allocated to finance 11 development projects, while US$ 2.615 million were earmarked to finance 9 technical assistance operations.
It is worth noting that BADEA’s total cumulative financial commitments to African countries eligible for its aid, including the new commitments, now stands at US $ 3104.597 million.


The approved operations for March 2006