Mauritanian Sidi Ould Tah has been re-elected head of the Arab Bank for Economic Development in Africa (BADEA). It was on the sidelines of the 43rd session of the institution (from 10 to 11 April in Jordan) that the members of the Board of Governors renewed their confidence in the former Mauritanian Minister of Economy and Finance.
For a new mandate of 3 years, renewable, Sidi Ould Tah will have to sustain the achievements of BADEA which committed in late March to finance about 653 projects, amounting to 5824.768 million dollars.
It should be noted that BADEA has set itself as a major objective to finance the economies of Arab and African countries through the Arab Fund for Economic and Social Development (AFESD), the Arab Company for the Guarantee of Investments and Credits to the Export, the Arab Monetary Fund and the Arab Authority for Agricultural Investment and Development.
Created in 1975, BADEA is owned by eighteen states, members of the Arab League. In 43 years of existence, the international financial institution relies on a capital of 4, 2 billion US dollars.
