The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its THIRD meeting for the year 2006 in Cairo, Arab Republic of Egypt, during the period 25th - 27th October 2006. The meeting was chaired by H. E. Mr. AHMED ABDALLAH EL-AKEIL, Chairman of BADEA’s Board of Directors, and in the presence of H. E. Mr. ABDELAZIZ KHELEF, the Director General of BADEA.

The Board reviewed a number of important issues; foremost was the Director General’s report on the Bank’s activities during the period July - October 2006, 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 some of Sub-Sahara African countries, with a total amount of US $ 30.305 million, out of which US $ 28.820 million for project loans, while US $ 1.485 million was earmarked for technical assistance operations.

It is worth noting that by the end of October 2006, BADEA’s total cumulative financial commitments to African countries eligible for its aid, including the new commitments, will reach US $ 3.174.527 million.


The approved operations