Arab development bank specifies $120 million for Africa

The Arab Bank for Economic Development in Africa has decided to specify $120 million to upgrade enterprises in Africa.

The general manager of the bank, Medhat Sami Lotfi, who is currently visiting Cairo, told ArabicNews.com that the current clashes and disturbances taking place in some African countries affected the implementation of the enterprises financed by the bank in these countries.

Lotfi said these disturbances influence the African countries in paying the bank's due debts, yet he confirmed that the bank's work is still going on in Africa, referring to the role of the World Bank in easing the debt burden of the poorer countries and the countries that have the most debts.