Directory of
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ARAB BANK FOR ECONOMIC DEVELOPMENT IN
AFRICA
Banque Arabe pour le Développement Economique en
Afrique (BADEA)
HEADQUARTERS
Abdel Rahman El-Mahdi Street Postal Add: P.O. Box 2640
Khartoum Telephone: [249](11)77-3646
Sudan [249](11)77-3709
Facsimile: [249](11)77-0600
[249](11)77-0498
E-Mail: badea@badea.org
Internet: www.badea.org
Chairman: ... Ahmed Abdallah AL AKEIL
Director General: ... Medhat Sami LOTFY
LANGUAGES: Arabic (official working language),
English, French
ESTABLISHMENT AND FUNCTIONS
The decision to establish the Arab Bank for
Economic Development in Africa (BADEA) was taken by the
Sixth Arab Summit at Algiers at its session of November
28, 1973 and the Economic Council of the League of Arab
States at its session of December 5, 1973. The first
meeting of the Board of Governors of the Bank was held on
January 11, 1975, and operations began in March 1975.
The objective of the Bank is to foster economic,
financial and technical cooperation between the African
States and the Arab nation. In carrying out this purpose,
the Bank shall; (a) assist in financing economic
development in African countries; (b) stimulate the
contribution of Arab capital to African development; and
(c) help to provide the technical assistance required for
Africa's development. Most recently and in compliance
with decision no. 3 for 1997 of the Board of Governors,
BADEA has introduced a new activity consisting in the
financing of Arab-African trade, and to which an amount
of US$50 million (extendable to US$100 million) was
earmarked. The Islamic Development Bank was entrusted
with the management of these funds on behalf of BADEA.
The initial capital of the Bank was US$231 million
subscribed by the member countries. Any other Arab State
is entitled to become a party to the Agreement
establishing the Bank, and the capital of the Bank shall
be increased by the amount of their subscriptions. The
subscribed and paid-up capital was, by the end of 1994,
increased to US$1145.817 million. The increase was the
result of: (a) the Bank's absorption of the capital of
the Special Arab Aid Fund for Africa (SAAFA), amounting
to US$350 million (Board of Governors' resolution,
December 1977); (b) the increase of initial capital of
the Bank, i.e., US$154.817 million (Board of Governors'
resolution, February 1977 and December 1977); (c) the
additional financial resources of US$250 million (Board
of Governors' resolution, April 1983); (d) the additional
financial resources of US$60 million (Board of Governors'
resolution, July 1985); and (e) the additional financial
resources of US$100 million (Board of Governors'
resolution, April 1994). For 1999, in its resolution
number 3, the Board of Governors has increased the Bank's
capital to US$1500 million by a transfer from the General
Reserve.
COMPOSITION
18 members: Algeria, Bahrain, Egypt,
Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania,
Morocco, Oman, Palestine, Qatar, Saudi Arabia, Sudan,
Syrian Arab Republic, Tunisia, United Arab Emirates
STRUCTURE
The Board of Governors is the
highest authority, composed of Finance Ministers of the
Member States. Each member country is represented by a
Governor and an Alternate Governor. The Secretary-General
of the League of Arab States and the Secretary-General of
the Organization of African Unity may attend meetings as
observers. The Board of Governors appoints the Director
General.
The Board of Directors
consists of 11 members, one of which is elected as
Chairman. It manages the business of the Bank and
exercises powers delegated to it by the Board of
Governors.
GENERAL PUBLICATIONS
General Agreement; Cooperation for Development
(Quarterly Review); Annual
Report; BADEA Lending Policy: Terms and Procedures; Call
for Tenders and Tenders' Evaluation; BADEA's
Achievements, A Note on BADEA; A
Quarter of a Century for African Development 1975-1999;
occasional information brochures.
UPDATED: December 2003
Directory of
Economic, Commodity and Development Organizations - table
of contents
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