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OFID signs loan agreements with seven partner countries
From left: Togolese Finance Minister HE Adji Oteth Ayassor; HE Md Abu Zafar, Ambassador of Bangladesh to Austria; Prime Minister and Finance Minister of St Lucia HE Dr Kenny Anthony; OFID Director-General Mr Suleiman J Al-Herbish; HE Teneng Mba Jaiteh, Ambassador of The Gambia to Belgium; HE Bwalya S. K. Chiti, Ambassador of Zambia to Germany; and HE Jean-Marc Mpaye,Ambassador of Cameroon to Germany.
Vienna, Austria, June 29, 2015. The OPEC Fund for International Development (OFID) has signed loan agreements totaling US$173m with seven partner countries for public sector projects aimed at enhancing their socio-economic development. The agreements were signed (details below) by OFID Director-General Suleiman J Al-Herbish and high-ranking officials of the beneficiary countries, including Prime Minister and Finance Minister of St Lucia HE Dr Kenny Anthony and Togolese Finance Minister HE Adji Oteth Ayassor. Agreements with Sri Lanka were signed on 26 June by Mr Al-Herbish and Minister of Finance HE Sandresh Ravindra Karunanayake.
| Country | Project | Amt (US$m) |
|---|---|---|
| Bangladesh | Teesta River Bridge and Access Roads. To improve connections between the high-poverty districts of Gaibandha and Kurigram, thus enabling communities to reach social amenities and have an improved link to the capital Dhaka. | 25.0 |
| Cameroon | Olama – Kribi Road (Bingambo-Grandzambi Section). To pave a 204km earth road joining the capital Yaounde to Kribi. Around 2.5 million people will have a better means of reaching schools, marketplaces and other important services. | 14.0 |
| The Gambia | Rural Infrastructure Development. To improve living conditions in five impoverished, rural regions. This will include building roads, health centers, schools and water supply and sanitation systems, among other amenities. | 13.0 |
| Sri Lanka | Rehabilitation of the A05 Road Corridor from Badulla to Chenkaladi. To improve 151.3 km of road transversing the Uva and Eastern provinces, high-poverty areas populated by nearly three million people. | 60.0 |
| Sri Lanka | Western Province Road Development. To upgrade 27 km of roads to improve the population’s access to social services and lower the cost of transporting agricultural produce and other goods. | 17.0 |
| St Lucia | Choc Bay – Gros Islet Road and Secondary Roads Development. To upgrade around 27km of main and secondary roads. This will help enhance living conditions of low-income communities in the capital Castries and the northwest, benefiting around 95,000 people. | 18.00 |
| Togo | Togo Sokodé – Bassar Road. To rehabilitate a strategically-situated 57km-long road that serves over 310,000 people living in high-poverty areas. This will help reduce travel time, facilitate the delivery of cash crops and improve access to social services. | 12.00 |
| Zambia | National Rural Water Supply and Sanitation Program. To provide rural populations in the Western Province with sustainable water supply and sanitation services by constructing and rehabilitating related infrastructure. | 14.00 |
| Total | 173.0 |