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- OFID signs loan agreements with six partner countries
OFID signs loan agreements with six partner countries
Vienna, Austria, February 6, 2015. The OPEC Fund for International Development (OFID) has signed new loan agreement totaling over US$140 million to help boost socio-economic development in six partner countries. The agreements were signed by OFID Director-General Mr Suleiman J Al-Herbish and various ministers and other high-ranking officials of the beneficiary countries.
The bulk of the funding will help fund water-related projects aimed at helping strengthen the agriculture and water supply and sanitation sectors in the beneficiary countries.
| Country | Project | Amt (US$m) |
|---|---|---|
| Bangladesh | Third Urban Governance and Infrastructure Improvement.To improve and rehabilitate key infrastructure such as roads and bridges, drainage works, water supply and sanitation systems and marketplaces in 30 selected urban areas. | 40.0 |
| Burkina Faso | Ouagadougou Water Supply (Ziga-Phase 2).To build a treatment plant and distribution network for providing safe drinking water and sanitation services for approximately 2.2 million people. | 10.0 |
| Cuba | Food Security and Rural Development Program in the Imbo and Moso Regions.Bayamo Water Supply System Modernization. To enhance access to safe drinking water in Bayamo city through the rehabilitation and expansion of water supply infrastructure and distribution networks. More than 70,000 people are expected to benefit from the project. | 30.5 |
| Nepal | Community Managed Irrigated Agriculture Sector (Phase II).To rehabilitate about 160 irrigation systems in the central and eastern regions. This will help reduce poverty and improve livelihoods for some 218,000 inhabitants. | 30.0 |
| Swaziland | Manzini-Mbadlane Highway Project (Lot 2).This project will ease the transport of inputs and agricultural goods and boost access to social service for some 250,000 Swazis. | |
| Uganda | Rehabilitation and Expansion of Yumbe and Kayunga General Hospitals.To help meet the growing medical needs and improve the quality and delivery of healthcare services for an estimated 950,000 people. | 15.0 |
| Total | 140.5 |
After the signature ceremonies, the Director-General highlighted OFID’s energy poverty initiative and the role OFID played in helping shape the new Sustainable Development Goals (SDGs) to be adopted in September 2015, with the eradication of energy poverty as SDG7.