- Media Center
- Press releases
- Fresh funds approved by OFID’s Governing Board at 152nd session
Fresh funds approved by OFID’s Governing Board at 152nd session
Vienna, Austria, September 15, 2015. Over 20 partner countries stand to benefit from the latest round of financing approved at the 152nd Session of the Governing Board of the OPEC Fund for International Development (OFID).
Public sector approvals supporting the health, water supply and sanitation and transportations sectors of four OFID partner countries amount to nearly US$70m and comprise the following:
China: US$15m. Sichuan Healthcare
To strengthen the capacity and improve the quality of healthcare delivery by constructing a 13-story inpatient building for a hospital in Ziyang City. The new facility will boost annual outpatient visits to over half a million and be able to accommodate around 35,000 inpatients/year.
Cuba: US$25m. Trinidad Water Supply and Sanitation System Modernization
To improve access to safe drinking water and provide basic sanitation services for over 30,000 people in Trinidad city and neighboring townships, thereby helping enhance health indicators and living conditions.
Malawi: US$14.85m. Integrated Urban Water and Sanitation Project for Mzimba Town
To help raise health and living standards, as well as improve livelihoods, of over 100,000 people by rehabilitating and expanding water supply infrastructure.
Rwanda: US$15m. Nyagatare-Byumba-Base Road
To upgrade a 73km stretch of road that passes through key agricultural areas. Around 1.2 million people in the Northern and Eastern provinces are expected to benefit from improved trade opportunities and access to markets and social services.
Grant funding totaling US$2.1m was also approved for the following:
German Cooperation for International Cooperation (GIZ)
US$350,000. This grant will cover OFID/GIZ scholarships in the areas of renewable energy and energy efficiency. A total of 10 young professionals from developing countries will be awarded scholarships.
International Humana People to People Movement
US$500,000. This grant will co-fund a project that will boost access to quality education in under-served rural populations in DR Congo, Guinea-Bissau, Malawi and Mozambique by implementing a teachers’ training program. Around 15,000 primary school children/year are expected to directly benefit from the scheme.
Istituto per la Cooperazione Universitaria Onlus (ICU)
US$500,000. To enhance access to modern energy services in four rural areas of Burundi by rehabilitating four power plants and strengthening the capacity of the country’s Rural Electrification Agency. As a result, nearly 46,000 people will be able to enjoy better living standards and incomes.
Nubian Vault Association
US$350,000. This grant will support a program aimed at enhancing access to affordable and sustainable housing in Burkina Faso, Mali and Senegal. Around 32,000 people will directly benefit from the initiative, which promotes the use of the age-old “Nubian Vault” (NV) construction technique that uses of earth bricks and mortar. Over 10 million people will indirectly benefit from the emergence and expansion of the NV market by 2020.
United Nations Development Program/Program of Assistance to the Palestinian People (UNDP/PAPP)
US$400,000. To support early recovery efforts in Gaza through the creation of employment opportunities for young professionals. This will be done by supporting short-medium term employment opportunities, targeting skilled workers, new graduates, persons with disabilities and women. Direct beneficiaries amount to over 300 people.
Two financing facilities totalling US$45m were also approved under OFID’s private sector business activities. One will support a financial institution to expand its lending activities to local small- and medium-sized enterprises (SMEs) in Kenya. Another, OFID’s first equity participation in the healthcare sector, will support hospitals in selected low and middle income countries in Africa and South Asia.
Under OFID’s trade finance facility, US$25m was approved to support international trade finance activities in Turkey and Guatemala, the latter being OFID’s first trade finance-funded operation in the country.