Financial and Banking News


BADEA Provides Loans to Seven African Countries 

The Arab Bank for the Economic Development in Africa (BADEA) has agreed to extend a $10mn loan to Guinea to finance the purchase of equipment for a fisheries project, under an agreement signed on 21 October. The loan is repayable in 16 years, including a five-year grace period, and carries a 6% annual interest.

Meanwhile at a Board meeting in Khartoum last week, BADEA approved $23.41mn in aid for...