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Dr. Babafemi O.Oyewole,Executive Director of the APPA FUND Visits “Oil and Gas African Liaison office”
   
   

On Tuesday, 17th of November 2009, Dr. Babafemi O.Oyewole, Executive director of the APPA FUND, visited the Oil Gas African Liaison Office in Cairo hosted by EGAS. The main objective of the visit is to investigate Ogalo’s achievements .Also, to strengthen the Co-operation between the APPA Fund and the Office in all the required fields.
Several issues have been discussed during the meeting including the following:

  • The importance of having an up to date data base designed upon a comparative bases.
  •  Publishing the Data base that was collected and organized by the OGALO Office as it is very important for the APPA members to have such kind of information.
  • APPA Fund needs to start an Oil Gas Finance forum, to make more benefit of the Oil and Gas in Africa.
  • The role of both “Oil and gas African Liaison Office” and the APPA Fund in co-operation to assist many researches in Africa aiming to have a takeoff with new projects during 2010.
  • Equipments should be fabricated and designed in African countries instead of importing them. This will help cutting cost down  and make more profits.
  • APPA Fund has a budget of five million dollar dedicated to projects and studies. Countries should guarantee paying back the interest and capital to APPA when claimed.
  • APPA Fund is looking forward to make co-operation with Badia (Arab Bank for African Development), to survive the limited and low interest in the banks of France.
By the end of the meeting, both sides agreed on the importance of continuing the co-operation between them to fill in all gabs and to make more benefit from the oil and gas in Africa.
 
   



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