The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its second meeting for the year 2006 in the Arab Republic of Egypt during the period 21 to 23 June 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 March – June 2006, in addition to a number of financial reports and the current project status reports.

The Board approved financing a new batch of development projects and technical assistance operations for the benefit of 11 African sub-Saharan countries, for a total amount of US$ 39.625 million, out of which US$ 37.500 million were allocated to finance 6 development projects, and US$ 2.125 million to finance 7 technical assistance operations.

It is worth noting that the Board approved in its session of March 2006 the financing of 20 development operations with a total amount of US$ 100.015 million. It is to be noted also that since BADEA started its operations in 1975, the total cumulative financial commitments to African countries eligible for its aid, including these new commitments, now stands at US $ 3144.222 million.



The approved operations