ARAB BANK FOR ECONOMIC DEVELOPMENT IN AFRICA

French Banque Arabe Pour Le Dveloppement conomique En Afrique (BADEA), Arabic Al-bank Al-'arabi Lil-tatawur Al-iqtisadi Fi Afriqiya bank created by the Arab League summit conference in Algiers, in November 1973, to finance development projects. In 1975 BADEA began operating by supplying African countries with technical assistance. All members of the Organization of African Unity (OAU) are eligible as recipients, except those countries belonging to the Arab League. BADEA includes all members of the Arab League except the Comoros, Djibouti, Somalia, and Yemen. (Egypt's membership was suspended 197989.) The objectives of BADEA are twofold: to assist African countries with large balance-of-payment deficits by providing aid and to sponsor Arab investments in Africa through investment guarantees. The headquarters are located in Khartoum, The Sudan.