The Arab Bank for Economic Development in Africa (BADEA) signed on Monday 28 April 2008 in Cairo, four (4) loan agreements with Burkina Faso, and the Republics of Burundi, Kenya and Mali. The total amount of the loans is US$ 30.9 million to finance development projects in the afore-mentioned countries. The loans are in line with the set goals of BADEA to boost the social and economic development in the African countries – south of Sahara.

Following are some details on the loans agreements:

1/ US$ 10 million to Burkina Faso as BADEA contribution in financing "Samindini" Dam Project. The project aims at increasing agriculture production, by constructing a dam on "Mohan" river to store water for irrigation and reclamation of 1500 hectare of land for cultivation, which will increase to 23000 hectare in the long run, in order to increase agricultural production, in its two forms (plant and animal) and generation of hydropower.

2/ US$ 10 million to the Republic of Burundi to contribute in financing "Bobonza-Andora" Road project, which aims at connecting the provinces of "Bobenza" and "Sibitoki" with "Entenba" and "Andoro" in the West, facilitate transportation of passengers and goods, reduce cost of transportation and contribute to the economic and social development in the region.

3/ US$ 8 million to Kenya to contribute in financing "Bura" Irrigation and Resettlement Project. The objective of the project is to create job opportunities and improve the living standard of the people in the project area by supporting resettlement of 2590 household farmers.  The resettlement project will include rehabilitation works for irrigation, drainage and infrastructure; and provision of water for irrigation of 5460 hectares of land on the west bank of "Tana" river.

4/ US$ 2.9 million an additional loan to Mali to participate in financing of Fisheries Resources Project in Sélingué Lake, to which BADEA had earmarked an amount of US$ 5.2 million. The project aims at increasing the fisheries production in Lake Sélingué and contributing towards the food security. It also aims at improving the living standard of the people in the project area by increasing their incomes and creating employment opportunity which will help to prevent migration to cities.

It is worth noting that BADEA extended the mentioned loans in easy terms of lending  according to the orientations of its 5th Five-year Plan (2005 – 2009), so each of the loans will be repayable during a period of 30 years, including grace period of10 years, with an annual interest rate of 1%.