Arab Bank for Economic Development in Africa


Also found in: Acronyms.

Arab Bank for Economic Development in Africa

A bank established by the League of Arab States in 1974 to promote economic development in Africa. It provides grants to African governments for certain projects. In order to encourage regional integration, ABEDA provides funds for a single project that will be carried out in several countries. Its headquarters are in Khartoum, Sudan.
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It also considered the annual reports and the ratification of the unified final financial accounts ending on 31 December 2013 for the following financial authorities, Arab Monetary Fund, Arab Fund for Economic and Social Development, Arab Investment and Export Credit Guarantee Corporation, Arab Bank for Economic Development in Africa and Arab Authority for Agricultural Investment and Development.
They commended the resolution of the 3rd Arab Development Summit to raise the capital of the Arab Bank for Economic Development in Africa (BADEA) by 50 percent and appreciating the role of BADEA in promotion of Africa's Development.
Muscat, March 6 (ONA) The 1st regular meeting of the board of directors of The Arab Bank for Economic Development in Africa (BADEA) was held at Grand Hayat Muscat Hotel today under the auspices of Sultan bin Salim bin Said al-Habsi, Secretary General of the Supreme Council for Planning.
The meetings concern the Arab Fund for Economic and Social Development (AFESD), the Arab Monetary Fund (AMF), the Inter-Arab Investment Guarantee Corporation, the Arab Bank for Economic Development in Africa (ABEDA) and the Arab Authority for Agricultural Investment and Development, in addition to a meeting of the Supervisory Board on the account established by AFESD to finance the small and medium enterprises.
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