The Governing Council of the Arab Bank for Economic Development in Africa is having its second meeting of 2011 in the city of Hurghada from June 22 to June 24. The Chairman of the Board, Engineer Yousef bin Ibrahim Al-Bassam, chairs the meetings in the presence of the Director General of the Bank, Abdul Aziz al-Khalaf. Discussions by the Council in this meeting will include a number of important issues based on the report of the Director-General on the bank's activities and achievements from March to June of 2011. Discussions will also include the financial report and performance report of the portfolio up to June 2011 The Council discussed adoption new funding for a number of developmental projects for the benefit of Sub-Sahara in Africa. The board of directors approved in the first session in 2011 to finance of a number of projects for African countries with a total value of U.S. $94.385 million; of which U.S. $91.7 million were allocated to finance eleven projects and U.S. $ 2.685 million allocated to finance operations for technical assistance. This brings up the total pledges of financing for African countries, benefited from banks help, up to U.S. $4038.572 million, starting in 1975 and up until March 2011. Projects financed by Arab Bank are considered a priority for recipient countries and an intervention in the framework of development plans and in some cases.
