H. E. Mr. Abdelaziz KHELEF, Director General of the Arab Bank for Economic Development in Africa (BADEA)  and accompanying delegation, will arrive on Sunday 4th May, 2008, at Addis Ababa, capital of the Federal Democratic Republic of Ethiopia, , as part of a regional tour which will take him to the Republic of Mozambique.

During the visit, the DG will sign a loan agreement for Rural Electrification  in "Sawla-Key Afer" Project to which BADEA is providing an amount of US$ 9 million. The Project aims at providing the necessary electric power supply to rural areas in the Southern People Regional State and to the commercial, industrial, and agricultural activities in the project area.  The project is to combat poverty and improve the living standard of the population. The loan will be extended in easy terms of lending in line with the goals of BADEA’s 5th Five-year Plan (2005 – 2009) to pay special consideration to the economic conditions of the beneficiary countries. The loan will be repaid over a period of 30 years, including grace period of 10 years, with an annual interest rate of 1%.

The Director General is scheduled to have an audience with H.E. Honorable the Prime Minister and the Honorable Minister of Finance and Economic and other high-ranking officials. Talks will focus on the current and future cooperation between the two sides and means of fostering these relations.

The delegation will seize the opportunity to pay on spot visits to BADEA’s on-going projects.

As of todate, BADEA’s assistance to the Federal Democratic Republic of Ethiopia stands at US $ 104.73 million, allocated to participate in supporting its social and economic development.