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Local news - Economy

BADEA Board of Directors holds its first meeting for 2018, approves financing of new operations

Khartoum, March 8 (SUNA) - The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) held its first meeting in 2018 in Port Louis, the capital of the Republic of Mauritius.
The meeting was chaired by His Excellency Eng. Yousef Bin Ibrahim Al-Bassam in the presence of the Director General, Dr. Sidi Ould Tah.
At this meeting, the Board of Directors reviewed a number of important issues including the Director General's report on the BADEA activities during the period from January to February 2018 and a number of financial reports including the report for the last quarter of 2017 until the end of January 2018.
The Board of Directors also discussed the preparations for the 43rd annual meeting of the BADEA Board of Governors, which is scheduled to be held at the Dead Sea, Jordan, during the 10th to 11th of the next April.
The Board of Dircetors also reviewed the annual report on the BADEA performance during 2017 as well as the audit report and financial statements for the same year.
The Board of Directors also approved new funds amounting to $ 85,460 million for financing 6 projects in the public sector with a total value of $ 81,500 million and $ 3,960 million for 13 technical assistance operations.
It is worth mentioning that by adding these new funds, the Bank's total funding for sub-Saharan African countries, benefiting from its aid, will reach US $ 5,824,768 million by March 2018