On 19 May 2024, the Arab Bank for Economic Development in Africa will celebrate its 50th anniversary in Riyadh, Saudi Arabia. This anniversary comes against a backdrop of positive signs for the bank, which, according to its managers, intends to increase the number of its projects on the African continent. Established in 1974, BADEA’s mission is to support and promote economic, financial and technical cooperation between Arab and African countries.
With a mission to promote the continent’s economic and social development, the Arab Bank for Economic Development in Africa (BADEA), since its creation in 1974, has invested in a multitude of projects aimed at supporting infrastructure, transport with over 200 road projects financed, rural electrification, agriculture, health, education, private sector development in Africa and even the climate issue. This year, 2024, marks the fiftieth anniversary of the financial institution, and its managers have expressed their satisfaction with the bank’s track record.
« As you know, Badea is celebrating its 50th anniversary this year and we are proud of what we have been able to do together with African countries, but also with all partners who are interested in the development of Africa. And Badea continues and will always continue to play this role. »
Sidi Ould TAH, President of BADEA – Mauritania
In addition to BADEA’s leading role in supporting Arab countries in Africa, the bank enjoys preferred creditor status and has built a solid financial structure in addition to abundant liquidity. It has made an annual profit of USD 126 million over the past 20 years, according to the Japan Credit Rating Agency, which gave it an AAA rating with a stable outlook in August 2023.
« Badea intends to redouble its efforts over the next few years to really increase the volume of financing allocated to these issues. And you will certainly recall that during Coop 28, Badea, along with other Arab financial institutions, announced a USD 10 billion envelope to support partner countries in achieving their goals. »
Sidi Ould TAH, President of BADEA – Mauritania
In the years ahead, BADEA plans to strengthen its commitment to sustainable development, regional integration and resilience in the face of climate change. This is a way of strengthening its commitment to African countries as part of its 2030 strategy. As a sign of its performance, Badea has raised USD 4 for every dollar invested.
