The Arab Bank for Economic Development in Africa (BADEA)
Doha - QNA
Doha will host on Wednesday the first meeting of the Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) for the year 2015.
The meeting, to be held under the patronage of HE the Minister of Finance Ali Sharif Al Emadi, will review a number of important reports including the Director General's report on the activities of the Bank in January and February 2015, the financial report for the fourth quarter of 2014, and the annual report of the Bank's activities in 2014, the Ministry of Finance said in a press release Monday.
The Board will also discuss the preparations for the 40th annual meeting of the Board of Governors, to be held in Kuwait on April 7 and 8, 2015.
Chairman of the BADEA Board of Directors Eng. Yousuf bin Ibrahim Al Bassam will preside over the meeting, in presence of the BADEA Director General Abdulaziz Khelef.
The BADEA has pledged a total of USD 4.5 billion to benefit 44 African countries south of the Sahara starting from 1975 to December 2014. The Bank financed 583 development projects, 620 projects for technical assistance, 45 projects for the private sector and 29 projects for foreign trade, in the context of the Bank's program to finance trade of countries Islamic.
The BADEA focuses on projects that raise the level of people's living conditions, alleviate poverty, and mitigate the adverse effects of the environment such as rural water and sanitation projects, drought and desertification, besides projects in infrastructure, agricultural, health, education and others.