RTCC is pleased to announce it will partner with the Arab Bank for Economic Development in Africa (BADEA) for the COP22 summit.
Based in Khartoum, Sudan, BADEA has a $1.6 billion plan to accelerate sustainable development across Arab and African countries.
Investment projects range across the public and private sector, with a specific focus on boosting technical skills across the continent.
Clean energy, food security and water management are among the climate resilience priorities the bank identified as part of its 2014-2019 Five Year Plan.
To demonstrate its commitment to the Paris Agreement on climate change, which comes into force on 4 November, BADEA has funded African 60 delegates for the Marrakech talks.
Chosen from across the continent and from a mixture of business sectors, the group will participate in capacity-building programme at the summit organised with RTCC.
Background:
The Arab Bank for Economic Development in Africa (BADEA) was established pursuant to the resolution of the Sixth Arab Summit Conference held in Algiers, Algeria in November 1973, and commenced its operations in March 1975. Khartoum, the capital of the Republic of the Sudan, was chosen to host the bank’s Headquarters.
Definition and Functions:
BADEA is an independent financial institution owned by the 18 countries members of the League of Arab States who signed the Establishing Agreement of the Bank on 18 February 1974. It has a full legal international status and enjoys total independence in administrative and financial matters, subject to provisions of its Establishment Agreement and the principles of international law.