BADEA’S hikes the subscirded and paid-up capital to us $ 2800 million
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AMMAN, Kingdom of Jordan, April 27, 2009/African Press Organization (APO)/ — In its Thirty Fourth ordinary meeting in Jordan during the period 15-16 April 2009, the Board of Governors of the Arab Bank for Economic Development in Africa (BADEA), resolved the increase of the Bank’s subscribed and Paid-up Capital from US $ 2200 million to US $ 2800 million as from April 2009, an increase of US $ 600 million transferred from General Reserve of the Bank to the paid- up capital.
It is worth-mentioning that the Bank’s subscribed and Paid-up Capital increased gradually from US $ 231 million dollars in 1975 up to a level of US $ 2800 million in 2009, depending on its own internal resources, is a clear dedication of the Arab countries to the objectives of the Bank for fostering and strengthening the cooperation between the Arab and African countries.
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Arab Bank for Economic Development in Africa (BADEA)
