For the first time in its three-year history, the Arab Bank for Economic Development in Africa, has met outside its member countries.
For the first time in its three-year history, the Arab Bank for Economic Development in Africa, has met outside its member countries. The fifth session of the Board of Directors met earlier this week (21-23 June) in Le Morne, mauritius. The Bank has capital amounting to 231 million U.S. dollars (GBP 115.5 million sterling), and it is the only Arab multilateral institution geared to aid for the development of non-Arab African countries.
The meeting was presided over by the Chairman of the Board of Directors, Dr. Chedly Ayari, who thanked the Mauritian Minister of Finance, Sir Veerasamy Ringadoo.
Sir Veerasamy Ringadoo responded to Dr. Ayari's remarks on behalf of his government.
The Bank's directors later agreed to finance three more projects and a seminar on telecommunications.