BADEA DG visits Burundi
PANA

The Director-General of the Arab Bank for Economic Deve lopment in Africa (BADEA), Mr. Abdelaziz Khelef, was due in Bujumbura Wednesday to attend the Great Lakes S ummit being hosted by Burundi 4-5 Nov.

A BADEA statement obtained by PANA here said while in Bujumbura, the Director-Ge neral would sign a loan agreement of US$8 million to participate in the financing of "Phase II" o f the Ntamba-Ndora road project.

The Director General will also use the opportunity offered by his visit to discu ss the mutual cooperation between Burundi and BADEA, with the objective of exploring the various means of promoting and develo ping it.

As at the end of Sept. 2009, BADEA's total assistance to Burundi reached US$52.9 2 million for financing 12 development projects.

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 wa ter, electricity, rural roads, animal and fish production, energy, industry, social and the banking sector over and above technical assista nce operations.

The projects selected by BADEA are those which are directed towards improving th e 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.

The Bank was established in 1974 by the Member States of the League of Arab Stat es, for the purpose of strengthening economic, financial and technical cooperation between Arab and African countries.

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