A significant increase of 120% compared to the previous five-year plan of BADEA
Riyadh, December 19, 2024. Under the chairmanship of His Excellency Dr. Fahd Aldossary, the Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) approved the 9th five-year plan (2025-2029), with a considerable budget of 18.375 billion USD . This significant increase of 120% compared to the previous five-year plan underlines BADEA's unwavering commitment to promoting economic development across Africa. This ambitious plan fits perfectly into BADEA's 2030 strategy and will be implemented through its integrated pillars:
• Investment in infrastructure for inclusion, industrialization and innovation.
• Development of agricultural value chains for empowerment.
• Development of SMEs and entrepreneurship.
• Stimulate trade and private sector development for growth and job creation.
The 9th Five-Year Plan also strengthens BADEA's crucial role within the Arab Coordination Group, which recently pledged to collectively provide USD 50 billion in financing to support African countries. This commitment illustrates the Arab world's strong partnership with Africa and its desire to promote shared prosperity.
His Excellency Dr. Fahd Aldossary, Chairman of the Board of Directors of BADEA, said: “This ambitious 9th five-year plan marks an important milestone in BADEA’s journey for Africa’s development. The substantial increase in funding reflects our unwavering commitment to our mission and our confidence in Africa's potential. By focusing our efforts on key areas such as infrastructure, agriculture, private sector development and SMEs, we aim to make a lasting impact and contribute to a more prosperous and sustainable future for the African continent. »
His Excellency Dr Sidi Ould Tah, President of BADEA, said: “The approval of our 9th five-year plan with a record budget of USD 18.375 billion represents a decisive step in BADEA’s mission to empower Africa. This ambitious plan, guided by our 2030 strategy and reinforced by our strong partnership within the Arab Coordination Group, will significantly contribute to Africa's economic transformation and shared prosperity. »
About the Arab Bank for Economic Development in Africa BADEA
BADEA is a multilateral development financial institution owned by 18
Sovereign states members of the League of Arab States. Operational since March 1975,
it provides financing and technical assistance for development
economic exclusively in sub-Saharan Africa. BADEA works to facilitate and
catalyze the inflow of Arab capital and other external investments into Africa. From
2015, the Bank also expanded its scope to trade financing and
of the private sector. The Bank was created with the aim of strengthening cooperation
economic, financial and technical between the Arab and African regions, and to embody the
Arab-African solidarity on the basis of equality and friendship. She remains one of the few
multilateral development banks whose mandate is to serve countries not
shareholders.
