(3 minutes read)
- Minister of International Cooperation Rania A. Al-Mashat met with Chairman of the Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), Fahd Al-Dosari, to take stock of the latest developments in the Second Arab-Africa Trade Forum
- This event organized by the BADEA and the Arab-African Trade Bridges Program (AATB) was held under the close watch of Mostafa Madbouly, Prime Minister of Egypt
Minister of International Cooperation Rania A. Al-Mashat met with Chairman of the Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), Fahd Al-Dosari, to take stock of the latest developments in the Second Arab-Africa Trade Forum. This event organized by the BADEA and the Arab-African Trade Bridges Program (AATB) was held under the close watch of Mostafa Madbouly, Prime Minister of Egypt.
The meeting discussed joint relations with BADEA and its role in revitalizing intra-regional trade between the Arab countries and Africa. The Arab Bank for Economic Development in Africa is consolidating joint relations between member countries in strengthening exports to African markets. The Arab Bank provides trade financing operations to Egypt. It provided about US$171 million to fund 20 operations to member countries to combat the pandemic’s repercussions.
The two sides focused on the need for enhancing the private sector’s role in pushing forward intra-regional trade between the two regions-Arab and Africa. The Bank also provides funding to Egyptian banks so as to boost the penetration of Egyptian companies and exports to other African market.
Minister Al-Mashat is Egypt’s Governor to the Arab Bank for Economic Development in Africa. The Bank was established pursuant to the resolution of the 6th Arab Summit Conference at Algeria in November 1973. It started its operations in March 1975, with its headquarters in Khartoum, Sudan. BADEA is owned by 18 Arab countries’ members of the League of Arab States (LAS).. The Bank supports economic, financial and technical cooperation between the Arab and African regions.
