Legal Matters

Mauritius and BADEA sign MoU for development projects in priority sectors

A Memorandum of Understanding (MoU), on development projects across Mauritius in various priority sectors, was signed yesterday between the Arab Bank for Economic Development in Africa (BADEA) and Mauritius during the first meeting of the BADEA's Board of Directors held at the Maritime Resort and Spa in Balaclava. The Minister of Health and Quality of Life, Dr Anwar Husnoo, and other eminent personalities were present at the event.

In his address, Minister Husnoo highlighted that it is a privilege that the BADEA has chosen Mauritius to host its 2018 Board of Directors meeting, which he said, bears testimony to the existing long standing bilateral cooperation.

Speaking about the MoU, he underlined that it will strengthen existing links and will provide the necessary support for development projects to enhance the quality of life of the population. The Saudi Fund as well as the Kuwait Fund will form part of the Funding Consortium for the projects, he added.

Dr Husnoo also pointed out that the BADEA has contributed, fully or partly, in the implementation of several major projects in Mauritius to the tune of more than USD 60 million. The projects comprise: Rehabilitation of Sewerage and Surface Drainage Networks in Housing Estates; Mare-aux-Vacoas Integrated Water Supply; Midlands Dam; Power transmission lines; Pailles Guibies Sewerage; Phase 2 of the Terre Rouge Verdun Ebene Link road; and, Rehabilitation of Victoria Hospital.

Moreover, the Minister observed that the BADEA has designed a five-year Plan (2015-2019) with budgeted allocations of USD 1.6 billion. The operations of the BADEA focus primarily on: poverty alleviation; support the participation of woman in development; finance regional operations; and, coordinate and co-finance with development finance institutions and regional organisations.

As regards the health sector, Minister Husnoo emphasised that a few years ago, the BADEA provided financial support to upgrade Victoria Hospital and set up a New Outpatient Department which amounted to some USD 3,250,000. Both the BADEA and the Saudi Fund for Development are important partners providing assistance in infrastructural development in the health sector, he added.

The BADEA

The BADEA is a financial institution owned by eighteen Arab countries members of the League of Arab States which signed its Establishing Agreement on 18 February 1974 and started operating in 1975. 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 on foundations of equality and friendship. It has contributed to the welfare of various African countries in sectors such as infrastructure, potable water, agriculture, energy, education and health.

Source: Government of Mauritius