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AfDB and BADEA Sign Protocol Agreement

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The AfDB and the Arab Bank for Africa’s Economic Development (BADEA) on Thursday, November 21, 2008, in Tunis signed a protocol agreement to strengthen cooperation ties between both institutions in support of Africa’s sustainable development. The agreement also seeks to strengthen technical and financial cooperation ties between African countries and the Arab world in order to promote Arab-African solidarity.

The document was signed by Vice President Thierry de Longuemar, on behalf of Bank Group President, Donald Kaberuka, while BADEA’s Director-General, Ustaz Abdel Aziz Khelef, signed for his institution. Speaking during the event, Mr. Longuemar said that "this protocol agreement confirms our common will to jointly promote the development of African countries in sectors as vital as agriculture, water and sanitation, infrastructure, the environment and human development after many decades of joint operations." The agreement is also a manifestation of our common will to continue working "in strategic domains for sustainable economic growth in Africa, just as the support we are providing to the private sector, information technology and regional integration efforts," he added. He also said that both institutions were working together within the framework of the agreement to support post-conflict African countries and manage their arrears. The agreement is expected to strengthen joint operations and technical cooperation between both institutions.

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