BADEA extends loan worth US $ 6 million to Ghana

 

 

BADEA extends loan worth US $ 6 million to Ghana

 

CAIRO, Egypt, March 10, 2009/African Press Organization (APO)/ — The Arab Bank for Economic Development in Africa (BADEA) and the Republic of Ghana signed Wednesday 04th of March 2009, in a ceremony held in Cairo, a loan agreement worth US $ 6 million dollar to participate in financing Radiotherapy and Nuclear Medicine Treatment Services project.

 

The loan extended by virtue of this agreement is based on easy terms, aims at enhancing development relations between BADEA and Ghana and falls within the framework of consolidating Afro-Arab cooperation.

 

The project aims at the expansion and upgrading the range of radiotherapy and nuclear medicine services to ensure continuity of services delivery, thereby improving chances of cure and reducing the mortality rate attributed to cancer diseases, particularly for women, children and the productive age group.

 

 

The loan will be repaid in 30 years, including a grace period of 10 years, and at an annual interest rate of 1%.

 

The agreement was signed, on behalf of BADEA, by H.E. Mr. Abdelaziz KHELEF, Director General and on behalf of the Republic of Ghana by H. E. Ms. Mavis Kusorgbor, Chargé d’Affaires of the Embassy of Ghana in Egypt

 

 

It is worth noting that by the addition of this loan BADEA’s total commitment to Ghana amounted to about US $ 151.67 million, for financing 28 development operations.

 

SOURCE : Arab Bank for Economic Development in Africa (BADEA)