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- OFID’s Governing Board approves over US$328m for operations in developing countries
OFID’s Governing Board approves over US$328m for operations in developing countries
Vienna, Austria, December 12, 2018. OFID – the OPEC Fund for International Development – has approved more than US$328 million of new funding to benefit developing countries across the globe. The 165th Session of OFID’s Governing Board approved the funding at the organization’s Vienna headquarters.
The public sector loans, which total US$216 million, will support the following projects:
Argentina. US$60m. Córdoba Sanitation System Development.
To improve health and living conditions for around 418,000 people in four towns in Córdoba Province by building new sanitation systems. The project will also reduce environmental pollution and help boost key economic activities such as agriculture and tourism.
China. US$50m. Hezhou Healthcare.
To construct a medical and care center for the elderly in the Guangxi Zhuang Autonomous Region in southern China. The 900-bed facility has the capacity for 50,000 patients / year.
Egypt. US$14m. Port Said Grain Storage Facilities.
To boost food security and reduce losses by building and equipping two new storage facilities that will increase capacity by 1.5 to 2 million tons of wheat grain each year.
Ethiopia. US$22m. Dilla-Bulle-Haro Wachu Road Upgrading.
To improve a 68 km road that will help enhance economic development in a region where agriculture is a primary source of income. At least 730,000 people will benefit from improved access to social services and marketplaces.
Guinea. US$25m. Family Farming, Resilience and Markets in Upper and Middle Guinea Program (AgriFARM).
To help alleviate poverty and enhance food security by upgrading infrastructure that will assist farmers in adopting more efficient technologies. The project is expected to benefit around 455,000 people.
Malawi. US$15m. Shire Valley Transformation Project.
To provide access to irrigation and drainage services, help secure land tenure, and strengthen wetlands management to increase agricultural productivity and commercialization for about 56,000 smallholder families.
Senegal. US$20m. Support to the Development of Agricultural Production Areas.
To raise yields, reduce post-harvest losses and facilitate farmers’ access to inputs by developing agricultural value chains and capacity building. Also planned is the upgrading of 550 km of rural access roads, to benefit around 600,000 people.
Tajikistan. US$10m. Improvement of Water Resources Management in Khatlon Region.
To enhance the health and living conditions of approximately 115,000 farmers and their families by building / improving water and sanitation systems and modernizing irrigation systems and land reclamation activities.
Other approvals included four grants totaling more than US$2.25 million that aim to: provide children with disabilities from conflict-affected communities in Palestine with access to a high quality, needs-focused education; enhance food security in Egypt, Iraq, Jordan, Morocco, Palestine, Sudan, Syria, Tunisia and Yemen by providing technical assistance and capacity building; support a project in the Gambia aimed at improving women’s livelihoods by strengthening their participation in trade; and promote access to modern energy in rural areas in Zambia by installing mini-grids based on renewable energy sources.
Under OFID’s private sector facility, US$73 million was approved: to help strengthen the energy sector in Senegal (€25m; circa US$28 million); and to support a financial institution in Botswana (US$20 million) by expanding its lending activities to micro-, small- and medium-sized enterprises. Funds will also support a lending institution that extends loans to private small- and medium-sized agribusinesses in Latin America and the Caribbean (US$25 million). Under OFID’s trade finance operations, US$37 million was approved to support international trade activities in Burkina Faso (€15 million; circa US$17 million) and Paraguay (US$20 million).