BADEA director arrives in Senegal

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The director general of the Arab Bank for Economic Development in Africa (BADEA), Abdelaziz Khelef, was billed to arrive in Senegal Thursday as part of a sub-regional tour that will also take him to Sierra Leone, Cape Verde and Guinea, the Khartoum (Sudan)-based financial institution said in a statement.

He will meet with Senegalese Economy and Finance Minister Abdoulaye Diop and hold talks with other government officials.

Talks will focus on the state of the cooperation between Senegal and BADEA as well as the bank’s prospects.

While in Senegal, Khelef will sign a US$6.20-million loan agreement to fund a livestock development project in the east and south of the country.

The project also seeks to increase the revenues of the beneficiaries.

BADEA’s overall assistance to Senegal has reached US$205.21 million covering 54 projects.

In addition, there is US$5.08 million representing the bank’s contribution to alleviate Senegal’s debt under the Heavily Indebted Poor Countries (HIPC) initiative.

The BADEA boss will on Saturday travel to Guinea, where he will hold talks with President Lansana Conté and other personalities, including Finance minister.

He is expected to sign a US$13.50 million loan agreement with Guinea to finance a road construction project linking the cities of Labé and Seriba to Médina Gounass in Senegal.

The project falls within the national Transport Plan, which seeks to develop the transport sector and improve the Guinean road network.

Khelef and his delegation will also visit some BADEA-funded projects in Guinea.

BADEA’s overall assistance to Guinea has reached US$155.783 million covering 37 operations.

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