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H.E. Mr.
Abdelaziz KHELEF, Director General of the Arab Bank for
Economic Development in Africa (BADEA), arrived at
Cotonou capital of the Republic of Benin on 7 of July
2007, as part of a regional visit to the Republics of
Ghana, Togo and Benin from 01/07/2007 to 11/07/2007.
During his visit to the Republic of Benin, he
will be received by H.E. the President of the Republic
and by H.E. the Minister of State for Economics and
Development, and other high-ranking government
officials.
Talks will cover areas of cooperation between
the Republic of Benin and BADEA, with the objective of
exploring the best means to promote and develop the
relations and realize the objectives of development in
Benin.
During his visit to Benin the Director
General will sign an agreement of 10 million $ US to
help finance the Protection of Cotonou's East City
Coast. The project aims at protecting the buildings and
socio-economic infrastructures found on the east coast
of the capital city Cotonou, which is threatened by
erosion. The Atlantic Ocean’s water currents strongly
affect the Benin sea front, with impacts that have
increased in both strength and frequency since the
construction of the port of Cotonou in 1963, resulting
in the erosion of the unprotected east coast.
By the end of June 2007, BADEA’s assistance
to Benin reached the sum of US $ 122.105 million to
finance 27 development operations, in addition to an
amount totaling 2.6 million representing BADEA's
participation in reducing the debt of the Republic of
Benin in the frame- work of HIPC initiation.
BADEA’s financing operations have grown since
1975, to reach US $ 3315.982 million by end of June
2007, and have been earmarked to finance 421 development
projects, 396 technical assistance operations, 26 loans
for the private sector and 14 special operations (in the
context of Emergency Aid Programme operations for the
benefit of several African countries effected by drought
and desertification).
BADEA’s operations cover all 43 eligible
countries in Sub-Saharan Africa, in addition to a number
of regional organizations. They cover infrastructure,
agriculture, rural development, energy, industry, social
and financial sector in the form of project loans and
technical assistance grants.
The projects selected by BADEA are directed towards
improving the living conditions of the target
beneficiaries, particularly those projects related to
rural development and environment, such as rural water
supply and sewage, or those aiming at reducing negative
impact of drought and desertification, and reducing
poverty. This is obviously in line with current
approaches to development. |
