Arab bank board will meet in Manama next wednesday

The board of the Arab Bank For Economic Development In Africa will start its 102nd meeting on Wednesday in the Bahraini capital Manama.

Kuwaiti news agency (KUNA) says quoting a Bank statement, the three-day meeting will discuss a number of reports, mainly the annual report for the fiscal year 2000, the general manager's report on the bank activities, its achievements during the first quarter of the current year and its reports on the performance of portfolios for the last quarter of 2000.

Participants in the meeting will discuss financing a number of new projects and technical support for some African, non-Arab countries that benefit from current bank operations and projects in Africa.

The Arab Bank For Economic Development In Africa was established in 1974 by the sixth Arab summit. It started operating in March 1975 and its total finances reached $ 2.08 billion, during last quarter of the past century. The sum was allocated for financing more than 300 development projects, including 15 loans, 14 private and urgent operations, 239 technical-aid operations for 42 African countries and 20 regional and sub-regional foundations and organizations.

The bank's technical support exceeded $ 56 Million, the bulk of which went to financing feasibility studies and supporting institutions.