The Director General of BADEA visits Burkina Faso
KARTHOUM, Sudan, May 26, 2011/African Press Organization (APO)/ — H.E. Mr. Abdelaziz Khelef, Director General of the Arab Bank for Economic Development in Africa (BADEA) arrived on 22th of May 2011 at Ouagadougou, the capital of Burkina Faso.
During his visit to Burkina Faso, he received by H.E. the Prime Minister of Burkina Faso, in addition to the Minister of Economic and Finance, the Minister of Infrastructure and the Minister of Women Promotion and other high-ranking government officials.
Talks covered areas of cooperation between Burkina Faso and BADEA, with the objective of exploring the best means to promote and develop the relations and realize the objectives of development in Burkina Faso.
During the visit to Burkina Faso the Director General signed a loan amounting to US $ 10 million to finance “Ouhigouya-Thiou-Border of Mali” Road project. The Project enhancing the trade between the project rich area with the production of agriculture project and of the parts of the country and enhance the trade exchange between Mali and Burkina Faso. The project aims at facilitation of transport of passengers and goods and reduces cost of travel in addition to combating poverty.
By the end of March 2011, BADEA’s assistance to Burkina Faso reached the sum of US $ 208,564 million to finance 53 development operations, in addition to an amount totaling US $ 16.299 million been allocated by BADEA as a contribution in reducing the debt of the Republic of Burkina Faso in the frame- work of HIPC initiation.
BADEA’s financing operations in Sub-Sahara African countries have expanded since 1975, reaching US $ 4038.512 million by end of March 2011. The allocations have been earmarked to finance 510 development projects, 505 technical assistance operations, 37 loans for the private sector, including 14 special operations (in the context of Emergency Aid Programme benefiting several African countries effected by drought and desertification). .
BADEA’s operations cover all the 43 eligible countries in Sub-Saharan Africa, in addition to a number of regional organizations. The operations cover infrastructure, agriculture and rural development, rural water, electricity, rural roads, animal and fish production, energy, industry, social and the banking sector over and above technical assistance operations.
The projects selected by BADEA are those, which are directed towards improving the living conditions of the people and reducing poverty, particularly those projects related to rural development and environment such as rural water supply and sewerage, or those aiming at reducing negative impact of drought and desertification. This is obviously in line with the Millennium Development Goals aiming at reducing poverty in developing countries.
SOURCE
Arab Bank for Economic Development in Africa (BADEA)
