Arab Bank for Economic Development in Africa (ABEDA) approved injecting new funds to 15 African countries in value to US$ 82.855 million, US$ 80.6 million of which is allocated to finance 10 developmental projects.
ABEDA also approved allocating US$ 2.255 million to finance 9 technical support processes. Accordingly, ABEDA’s funds to African countries rose to US$ 4.226 million in March 2012.
This came in the end of ABEDA’s Board first meeting for 2012 held in Abidjan City, Côte d’Ivoire, headed by Yousef Bin Ibrahim Al-Bassam, chairman of ABEDA and in the presence of Abdel Aziz Khalaf, general manager of ABEDA.
ABEDA’s Board discussed important points such as general manager’s report on the Bank’s performance from January to February 2011 and some other financial reports including the financial report for the fourth quarter of 2011 and till the end of January 2012.
The Board also discussed preparing for the meeting of the 27 central banks governors, scheduled to be held from 17 to 18 April 2012 in Marrakech City in Morocco.
The Bank also signed an agreement with Côte d’Ivoire in value to US$ 10 million, to contribute in financing the development of and equipping 3 vocational training institutes with a ten-year grace period, at 1% annual interest rate.
Chairman, general manager and member of the Board of ABEDA visited the bridge, which as the Bank financed its establishment by US$ 13 million, 32.46% of the total cost. Board members of the Bank and the government delegation said that they are pleased with the quality level of the project which was executed by Arab Contractors Company.
Noteworthy that the total ABEDA’s funds paid for Côte d’Ivoire reached US$ 98 million, to finance 19 developmental projects in infrastructure, water resources, Sanitation and agriculture.
