BADEA grants a financing line to BDEAC

HE Dr. Sidi Ould TAH, Director General of BADEA, here on the right and HE Fortunato-OFA MBO NCHAMA, President of the Central African Development Bank (BDEAC).

The Arab Bank for Economic Development in Africa BADEA has granted the Central African States Development Bank (BDEAC) a funding of US $ 20 million.

The signing ceremony took place on 8 July 2018 at BADEA headquarters in Khartoum-Sudan. The agreement was signed by HE Dr. Sidi Ould TAH, Director General of BADEA and HE Fortunato-OFA MBO NCHAMA, President of the Central African Development Bank (BDEAC).

The agreement is part of BADEA’s program to finance Arab exports to African countries, and in accordance with its Seventh Five-Year Plan 2015-2019.

The Financing Line aims at contributing to the financing of the trade operations between the Arab countries and the States of the Economic and Monetary Community of Central Africa (CEMAC).

It should be noted that cooperation between BADEA and BDEAC has grown significantly in recent years. BADEA had already provided BDEAC with a credit line of US $ 15 million under the private sector support program.

Cooperation between the two institutions also includes aspects related to capacity building. BADEA had already financed in this context two technical assistance operations for the benefit of BDEAC with an overall cost of approximately US $ 700 thousand.

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