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The Arab Bank for Economic Development of Africa (BADEA) and the Central African Development Bank (BDEAC) signed an agreement on Saturday at the headquarters of the Arab Bnk in Khartoum (Sudan). funding of $ 20 million.
This envelope, says BADEA in a statement, is part of its program to finance Arab exports to African countries, in accordance with its Seventh Five-Year Plan (2015-2019).
The sum should allow to finance commercial operations between the Arab countries and the States of the Economic and Monetary Community of Central Africa (CEMAC).
The purpose, the communiqué added, is to promote economic integration between the regions. Arab and African countries, to encourage their trade and to support Arab-African cooperation.
The agreement was initialed by Sidi Ould Tah, the Director General of BADEA, and Fortunato-Ofa Mbo Nchama, President of the BDEAC
The BADEA is not at its first action in favor of the BDEAC. It has already granted it other lines of credit turned towards the support of the private sector or the capacity building.
In finish, the BADEA works for the sustained development of the States and the improvement of the living conditions of the Poverty alleviation
Recently, at its Board of Directors held June 20-22 in Tangier (Morocco), it approved operations worth $ 232 million for the financing of several public and private sector projects for sub-Saharan African countries
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