Posted by: africanpressorganization | 14 July 2011

BADEA’s Director General in Democratic Republic of Congo


 

 

BADEA’s Director General in Democratic Republic of Congo

 

CAIRO, Egypt, July 14, 2011/African Press Organization (APO)/ — H.E. Mr. Abdelaziz KHELEF, Director General of the Arab Bank for Economic Development in Africa (BADEA), arrives on Saturday, the 16th of July 2011, at Brazzaville, capital of the Republic of Congo.

 

During his sojourn in Congo, he will hold talks with senior government officials spearheaded by H.E. the Minister of Finance, Budget and Public Portfolio and other high-ranking government officials.

The visit comes as part of BADEA’s communication process with its partner/beneficiary countries during which the Director General will seize the opportunity to discuss the mutual cooperation issues between Congo and BADEA and the status of some of the on-going and future programmes with the objective of exploring the various ways and means of enhancing and promoting such cooperation for the benefit of the final beneficiaries.

 

During the visit the Director General will sign a loan agreement totaling US $ 10 million to help finance Development of Rice Cultivation in “Masina” project. The project aims at achieving the food security, improving the standard of living and reduces poverty in the project area, through supporting the irrigated rice production and the expansion of irrigated agriculture, water and agriculture management with more efficiency and effectiveness to insure the continuity of utilizing the natural resources from land and water to support rice production.

 

It is to be recalled that the cooperation between Congo and BADEA, commenced in 1975 and by the end of June 2011, BADEA’s total gross assistance to the Republic of Congo reached US $ 50.98 million.

BADEA is an independent International Institution established by virtue of an agreement between 18 Arab States in February 1974, for the purpose of strengthening the African-Arab cooperation and linkages. Its operations are exclusively directed to the benefit of African countries non-members of the League of Arab States and include all 43 Sub-Saharan African states, in addition to a number of regional organizations. The operations, in the form of concessionary project loans, technical assistance grants for capacity building grants and trade finance loans cover all economic sectors.

Since commencement of operations in 1975, the total allocations of BADEA to all the African countries have grown to reach US $ 4.095,227 million by June 2011, and have been earmarked to finance 517 development projects, 514 technical assistance operations, 37 loans for the private sector and 14 special operations (in the context of Emergency Aid Programme which was targeted to several African countries effected by drought and desertification).

The projects selected by BADEA are those, which are technically, economically and environmentally viable and the country programmes are demand driven and are subject to the priority of the partner countries and fit within their medium and short-term development programmes.

 

SOURCE 

Arab Bank for Economic Development in Africa (BADEA)


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