Eritrea beneficiary of BADEA’s technical assistance grant

Jun 12, 2004 - 07:42 -

BADEA approves US$33 million grant for Africa Abu Dhabi, Jun. 12, 2004 (WAM) -- The Arab Bank for Economic Development in Africa, BADEA, has approved during a board meeting held in Cairo more than US$33 million for the financing of new batch of development projects in a number of African countries. During the meeting, the second to be held this year, the Bank approved US33,460, 000 for the projects, including 32 million dollars as loan grants and US$1.560 million in the form of technical assistance. A press release from the Bank reaching WAM said the new grant raised the total amount granted to African countries by the Bank to US$2.814 billion as at the end of June 2004. The release also said that the Bank's board had also agreed to grant loans to Tanzania, Senegal, Kenya, Benin, Cape Verde Islands, Santiago Island and Rwanda. The press release pointed out that the technical assistance approved by the meeting were for Eritrea and Chad. WAM/SA 18 42 CCCCQQE

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