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Add to Preferred SourcesThe Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) approved financing new operations for the development of Africa Sub-Saharan countries for a total amount of US $ 130.880 million.
The new financing consists of 4 projects in the public sector, one line of credit in the framework of BADEA’s private sector, one trade finance operation, in addition to 8 technical assistance operations.
The first project that the Board approved was “National Road No 10 “Tougan-Ouahigouya” project in Burkina Faso, with a loan of US $ 20 million, (28.17% of the total cost), the estimated project total cost is US $ 71 million.
The road project (94 kilometers long); aims to break the internal and external isolation of the country, strengthen the economic growth and encourage trade between Burkina Faso and its neighboring countries (Niger, Mali and Cote d’ Ivoire).
The Board also approved a line of credit of US $ 20 million to support 4 National Funds for a micro-finance project in Burkina Faso. The purpose of this line is to contribute to reducing poverty and improving the standard of living, especially among women and children-youth and providing microloans in the agriculture sector in addition to develop traditional industry.
The third project approved by the Board is related to Rural Development in “Savoigne”, project in Senegal River Basin, Republic of Senegal with a loan of US $ 11,50 million, which represents 88.50% from the total amount of loan. The project aims to contribute to achieving food security in the region by increasing the production of agricultural crops, especially in rice and vegetables, for 5,700 beneficiaries in 11 villages.
The Board also approved to finance Local Development in “Tandjile” region Project in the Republic of Chad with a loan of US $ 12 million which represents 89.6% of the estimated total costs of the project which is US$ 13.40 million.The purpose of the project is to achieve food security, poverty eradication, improvement in the standard of living, especially among the poorest in the society including women and children.
In the same context, the Board approved financing a line of credit of $ US 15 million to finance private sector projects in Nigeria.
In the field of technical assistance operations, the Board approved the financing of 8 operations for the benefit of several African countries for a total amount of US $ 2,380 million.
The technical assistance consists of the following operations:
A technical assistance operation to finance the technical and economic feasibility study for a sanitation project in the city of “Mozuzu” in the Republic of Malawi by a non-refundable grant of US $ 250,000 dollars.
A technical assistance operation to finance the technical and economic feasibility study for the Development of Integrated Agro-processing in the Province of “Manica ” in the Republic of Mozambique, with a grant not refundable of US $ 280,000.
A technical assistance operation to enhance food security in the salinity-affected areas of the Republic of The Gambia, with an amount of $ US 500,000.
A technical assistance operation–regional – of an amount of USD 220,000 to finance an interlocutory program for the favour of project implementation units and focal points.
A technical assistance operation to finance a training program to foster and promote the investment opportunities in the Republic of Mali, by a grant of US $ 300,000 dollars.
A technical assistance operation to organize a training session for high-level employees of the Member States of Liptako-Gourma Authority (LGA), with a grant of US $ 200,000.
Original source: BADEA
Published on 13 October 2018