Sidi Quld Re-appointed MD , Arab Bank for African Development
The Managing Director of the Arab Bank for Development in Africa (BADEA), Sidi Ould Tah, is reappointed for a new term. The decision was taken by the Board of Governors of the Bank which met on April 13.
“This renewed confidence requires me to make more efforts so that BADEA’s action can continue to meet the multiple needs of its partner countries, in the economic and health context imposed by Covid-19,” said Sidi Ould Tah.
The Mauritanian senior executive was praised for his record in the service of this important financial institution. Under the leadership of Sidi Ould Tah, BADEA has made a strategic shift, by strengthening budget lines at the service of States and public institutions while increasing initiatives in favor of the private sector.
The main objective of BADEA is to finance the economies of Arab and African countries through the Arab Fund for Economic and Social Development (AFESD), the Arab Company for the Guarantee of Investments and Export Credits, the Arab Monetary Fund. and the Arab Authority for Agricultural Investment and Development.
Created in 1975, BADEA is owned by eighteen member states of the Arab League. In 46 years of existence, the international financial institution, with a capital of 4.2 billion US dollars, has established itself as one of the main channels of solidarity between the Arab world and Africa.