In a ceremony held in Cairo The Arab Bank for Economic Development in Africa (BADEA), signed today Monday 04 June 2007, five (5) loan agreements with the Republics of: Central African Republic, Benin, Chad, Guinea and Kenya. The loans extended by virtue of those agreements are based on easy terms and aim at contributing to financing development projects in the afore-mentioned African countries. The total amount of these loans is US $ 26.08 million and is allocated as follows:  

  - US$ 3.33 million to Central African Republic, to participate in financing Health Centre Project. The loan will be repaid in 30 years, including a grace period of 10 years, and at an annual interest rate of 1%. The project aims at providing and expanding the health services in the country, in general and improving the health of women and children in particular. This will be realized through expanding the health centres in 6 provinces of the country and by reducing the death incidents occurring during pregnancy and labour and through creation of awareness among the population of the targeted provinces; in addition the project is expected to reduce poverty in the project areas. 

    - US$ 1.85 million additional loan to the Republic of Benin to participate in financing Akpro–Missérété-Kpédékpo Road Project. The loan will be repaid in 30 years, including a grace period of 10 years, and at an annual interest rate of 1%. The project aims at connecting the isolated south- eastern part of the country through provision of access road to ensure reliable and safe transportation of agricultural products from this part of the country to the market places in the Capital and to the port of Cotonou. The project will minimize cost of transportation for the people and the commodities and reduce cost of maintenance of the current ground road.

   -  US$ 13 million to the Republic of Chad, to finance Bokoro - Arboutchatak road project. The loan will be repaid in 30 years, including a grace period of 10 years, and at an annual interest rate of 1%. The project aims at expansion and integration of asphalt roads networks, connection of the areas that crosses with other parts of the country. The construction of the road will minimize cost of transportation of passengers and goods and will contribute to reduce poverty. The project will also aim at connecting Arab and African countries.  

    - US$ 3.60 million to the Republic of Guinea, to finance two feeder roads on the principal Matoto - Dabompa road in the Capital Conakry. The loan will be repaid in 30 years, including a grace period of 10 years, and at an annual interest rate of 1%. The project aims at facilitating transport of passengers and goods inside the capital, Conakry and between Conakry and the rest of the Guinean towns, in addition to reduction of transportation cost and time. 

- US$ 4.30 million to the Republic of Kenya, to finance Garissa City Sewerage Project. The loan will be repaid in 30 years, including a grace period of 10 years, and at an annual interest rate of 1%. The project aims at contribution in the improvement of the hygienic conditions of Garissa City by construction of new treatment sewerage system, in addition to the reduction of River Tana pollution resulting from direct sewerage disposal in the river. 

On behalf of BADEA, the agreements were signed, by H.E. Ahmed Abdallah Al-Akeil, Chairman of the Board of Directors and in the presence of H.E. Abdelaziz Khelef, Director General. The beneficiary countries were represented by the officials designated by their respective countries as follows: H.E. Sylvain Maliko, Minister of Economics, Planning and International Cooperation for Central African Republic; and for the Republic of Benin, H.E. Edouard O. Aho-Glele, Benin's Ambassador to Addis Ababa and Permanent Representative of African Union. H.E. Ousman Kalibou Bella Chad’s Extraordinary Ambassador and Plenipotentiary to Egypt signed for the Republic of Chad and for the Republic of Guinea Her.E.Hadja Aminata Koïta, Chargée d'Affaires of Guinea Embassy in Cairo signed for her country and Mr. Mutua Kilaka, SS, Financial Secretary, Ministry of Finance for the Republic of Kenya. 

It is worth noting that BADEA’s total commitments to these five beneficiary countries amounted to about US$ 460.034 million, by the end of March 2007.

The total BADEA’s commitments for the 43 African beneficiary countries during the period March 1975 to March 2007, stands at US$ 3242.927 million, to finance projects and technical assistance operations and also include loans provided by SAAFA (Special Arab Aid Fund for Africa) amounting to US $ 214.2 million, and the funds allocated through Heavily Indebted Poor Countries Initiative (HIPC).