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Ethiopia, Arab Bank sign letter of intent to co-finance agro parks program

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Addis Ababa, October 2, 2019 (FBC) –The Ministry of Finance and the Arab Bank for Economic Development in Africa (BADEA) have signed a letter of intent to co-finance the integrated agro parks program in partnership with the African Development Bank (AfDB).

It was noted that the program aims to facilitate the agri-value chain setup.

Ahmed Shide, Ethiopia’s Minister of Finance, and Eng. Yousef AlBassam, Chairman of the Board of Directors of BADEA, signed the agreement in Addis Ababa today.

The Board also held its third meeting in Addis Ababa today in the presence of Saudi Ambassador to Ethiopia, Sami bin Jamil Abdullah.

BADEA is a financial institution funded by the governments of the member states of the Arab League States, and aims to support economic, financial and technical cooperation between Arab and African regions.