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Article: South Africa: Arab Bank to step up African food investment.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
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Byline: Mamta03
The Arab Bank for Economic Development in Africa (BADEA) is to step up funding for agriculture projects to help governments stave off future food price crises and droughts, the bank s director general said.
Abdelaziz Khelef told Reuters the bank would increase total commitments to $1 billion under a new 2010-2014 five-year plan, a $100 million increase from the previous plan. A quarter of that money would now go to agricultural and food security projects, up from less than 20 per cent in the last five-year period, he added.
BADEA was set up by countries in the Arab League to make grants and soft loans to development projects in ...