Foreign Trade Between Arab and African Countries

(Export Financing)

Due to the role of trade in strengthening Arab African cooperation, BADEA contributed US$ 10 million in the capital of AFREXIMBANK and allocated a sum of US$ 100 million to finance Arab exports to African countries recipient of its aid, (out of which US$ 50 million was entrusted to the Islamic Development Bank for management). Since 1998 the Bank financed 14 export operations at a total value of US$ 83.7 million, out of which 5 operations were considered in 2003 for a sum of US$ 29.5 million for the benefit of Senegal, Mauritius, Kenya, Gambia and Zimbabwe.

The other operations were to the benefit of Tanzania, Guinea, Mauritius, Uganda, Zimbabwe, Seychelles and Senegal. The net amount allocated for these operations stood at US$ 63.4 million, excluded the cancelled operations.

 

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