President Yoweri Museveni has today met the The Arab Bank for Economic Development in Africa (BADEA) group led by the Chairman Board of Directors, Dr.Fahad Abdullah Al -Dossari at Nakasero State Lodge.
The group announced a 2 million dollar grant for the prevention of Ebola outbreak in the country.
BADEA is a financial institution owned by eighteen Arab countries members of the League of Arab States (LAS) which signed its Establishing Agreement in 18th February 1974.
The Bank is an independent International Institution with an objective strengthening economic, financial and technical cooperation between the Arab and African regions and for the embodiment of Arab-African solidarity on foundations of equality and friendship among other Objectives.
President Museveni welcomed the BADEA team and thanked them for partnering with Uganda in implementing development projects . He highlighted areas such as the competition of Oil roads, funding of the Oil pipe line , Refinery, commercial agriculture and manufacturing industries as priority areas The chairman Badea, disclosed that the Bank has been supporting a number of projects through their credit line in Uganda Development Bank (UDB) such as Uganda heart institute, rehabilitation of roads building of bridges in Northern Uganda, irrigation schemes, roads rural electrification among other projects.
The group also agreed with the Government of Uganda to remove all the difficult clauses in the financing agreement in order that the procurement processes are more flexible to allow local investors to participate.
The meeting was also attended by the Permanent secretary Ministry of Finance and Economic planning Ramadhan Ggoobi among other senior government officials.
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