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H.E. Mr. Abdelaziz KHELEF, the Director
General of the Arab Bank for Economic Development in Africa (BADEA), starts
today, the 22nd of April, 2007; an official visit to the Republic of Seychelles,
responding to an invitation extended to him by H.E. the President of the
Republic. The visit aims at the coordination, exchange of views and
identification of the needs and priorities of the country, in order to improve
and enhance the existing cooperation between Seychelles and BADEA. The visit is
within a regional tour by his Excellency to some Indian Ocean countries eligible
for BADEA’s assistance, and including beside Seychelles, the Republics of
Mauritius and Madagascar.
During his visit, the Director General will
meet with H.E. the President of Seychelles and H.E. the Vice-president. In
addition, he will hold work sessions with some Ministers and Officials who are
concerned with BADEA’s cooperation. The Meetings will review the current status
of the mutual cooperation, the current status of the on-going projects and
technical assistance operations, in addition to the development plans of the
Government and its prioritized development operations for financing. The
possibility of outlining future programs of cooperation will be considered. On
the other hand, the delegation will pay visits to some sites of projects
financed by BADEA.
Till the end of March, 2007, the total
benefits of the Republic of Seychelles from BADEA’s financing, amounted to about
US$ 55.50 million, earmarked to finance 17 development operations, including
three operations within the framework of BADEA’s Export Financing Scheme (BEFS)
totaling US$ 14.5 million.
It is worth noting
that the Arab Bank for Economic Development in Africa is an Arab financial
institution, financed by the Governments of the Arab countries, members of the
League of Arab States (LAS), and provides its financing as loans with
concessionary terms and technical assistance operations in the form of
non-repayable grants, to enhance the socio-economic development of the non-Arab
African countries – south of Sahara. In this regard, the total BADEA’s
commitments to these countries during the period 1975-2006 amounted to US$
3174.52 million, earmarked to finance 402 development projects, 376 technical
assistance operations, in addition to 59 loans provided to African countries in
support of their balance of payments. Due to the role of trade in strengthening
Arab African cooperation, BADEA initiated a programme for financing Arab exports
to African countries eligible for its aid, and allocated for it a sum of US$ 100
million. Since the start of the programme in 1998, 16 operations were funded
with a total cost of US$ 93.83 million. Likewise, BADEA extended, within the
framework of the "HIPC" Initiative, US$ 132.75 million to contribute to the
reduction of debt burden of 13 African beneficiary countries. |
