Also known as: Al-Ma&ssubdot;rif al-&ayn;Arabī lil-Tanmiyah al-Iqti&ssubdot;ādī fī Ifrīqiyyā, BADEA, Banque Arabe pour le Développement Économique en Afrique
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Arab Bank for Economic Development in Africa, bank created by the Arab League summit conference in Algiers in November 1973 to finance development projects in Africa. In 1975 BADEA began operating by supplying African countries, excluding members of the Arab League, with technical assistance, which remains another main objective of the bank. BADEA includes all members of the Arab League except Comoros, Djibouti, Somalia, and Yemen. (Egyptâs membership was suspended from 1979 to 1989.) The bankâs headquarters are located in Khartoum, Sudan.
The objectives of BADEA are threefold: to assist African countries with large balance-of-payment deficits, to provide technical assistance, and to sponsor Arab investments in Africa through investment guarantees and export financing. A fundamental focus of BADEA since its establishment has been to help alleviate poverty in Africa and to encourage economic growth by supplying much needed financing. The bankâs investments cover a broad array of public sectorsâincluding transportation, agriculture, health care, education, and energyâas well as the private sector. Its lending programs focus on infrastructure projects to help create a more-sustainable investment environment in impoverished African countries and microcredit to support small and medium-size enterprises. BADEA also runs a debt-relief program to help heavily indebted poor countries in the region.
