DUBAI: Dr. Sidi Ould Tah, President of the Arab Bank for Economic Development in Africa (BADEA), expects positive effects on African countries as a result of the projected decline in global interest rates, which, he said, is beginning to appear on the horizon.
Dr. Tah told the Emirates News Agency (WAM) on the sidelines of the final day of the World Governments Summit (WGS) in Dubai, that the bank recently issued social bonds worth 500 million euros under its newly established Euro Medium Term Note (EMTN) Program listed on the London Stock Exchange.
He stated that the funds raised will be used to finance eligible projects in accordance with the Bank’s Sustainable Financing framework, with a focus on basic services such as healthcare and education, financing small and medium-sized enterprises (SMEs), food security, in addition to job creation and the affordable housing sector.
He said that the WGS has become an important platform for exchanging views, ideas, and successful experiences to look to the future,
noting that the summit witnessed a wide participation from various actors in the world, whether governments, think-tanks, or international financial institutions, in order to find effective solutions to the issues facing humanity.
Source: Emirates News Agency
