Arab Bank for Economic Development in Africa
BADEA Headquarters, Khartoum - perspective design by Abdel Moneim Mustafa in 1977 | |
| Abbreviation | BADEA |
|---|---|
| Formation | November 28, 1973 (Treaty signed) March 1975 (Treaty in force) |
| Type | International Financial Institution |
| Legal status | Treaty |
| Headquarters | Khartoum, Sudan |
| Membership | Arab League |
Official language | English Arabic French |
President | Abdullah Almusaibeeh |
| Website | www |
The Arab Bank for Economic Development in Africa (BADEA) (Banque Arabe pour le Développement Economique en Afrique) (المصرف العربي للتنمية الاقتصادية في أفريقيا) is a development bank owned by Arab League to provide development financing to African countries.
It was established pursuant to the resolution of the 6th Arab Summit Conference at Algiers on the 28 November 1973. The Bank was created for the purpose of strengthening economic, financial and technical cooperation between the Arab and African regions and for the embodiment of Arab-African solidarity.
The Bank is an international financial institution enjoying full international legal status and complete autonomy in administrative and financial matters. It is governed by the provisions of its Establishing Agreement and the principles of international law.