The Arab Bank for Economic Development in Africa (BADEA) and the Regional Bank of Markets (BRM) of Senegal signed on Tuesday, February 26, two loan agreements with a total value of $ 30 million for the second named. The two agreements were signed by the Director General of BADEA, Sidi Ould Tah and the Director General of BRM Senegal, Alioun Kamara.
The first loan, worth $ 10 million, will be used to finance projects in the Senegalese private sector under the BADEA program to finance its seventh five-year plan (2015-2019).
The second loan is a $ 20 million credit facility to finance the foreign trade line. It is part of BADEA’s program for African countries to help the borrowing bank finance the importation of Arab goods and products by re-lending resources to its clients.
Also, the credit line will strengthen trade between Arab and African countries.