The Arab Bank for Economic Development in Africa (BADEA) signed a letter of intent with the Ethiopian Ministry of Finance. The letter of intent aims to co-finance, with the African Development Bank (AfDB), the integrated agro-industrial parks in Ethiopia.

Signing the agreement in Addis Ababa were Ahmed Shide, Ethiopia’s Minister of Finance, and Yousef AlBassam, Chairman of the Board of Directors of BADEA. The program aims to facilitate the agricultural value chain setup.

The Board also held its third meeting in Addis Ababa today in the presence of the Saudi Ambassador to Ethiopia, Sami bin Jamil Abdullah.

A financial institution funded by the governments of the member states of the Arab League States, BADEA  aims to support economic, financial and technical cooperation between Arab and African regions.

Source: FBC