The OPEC fund for
international development
  • Who We Are
    • At a Glance
    • Facts & Figures
    • Member Countries
    • The Organization
    • Partners
    • FAQs
  • What we offer
    • Overview
    • Public Sector Lending
    • Private Sector & Trade Finance
    • Grants
    • Special Initiatives
  • Focus Areas
    • Overview
    • Agriculture
    • Education
    • Energy
    • Financial
    • Health
    • Multisectoral
    • Transportation
    • Water & Sanitation
  • Operations
    • Procurement Notices
    • Search Operations
    • World Map
    • Countries A-Z
  • Investor Relations
    • Overview
    • Credit Fundamentals
    • Funding
    • Operations
    • Governance
    • Contact IR Team
  • Events
    • Development Forum 2025
    • SIDS Summit
    • Past Events
  • News
  • Contact Us
  • Media Center
  • Publications
The OPEC Fund
for International
Development
  1. Media Center
  2. Press releases
  3. 2018
  4. OFID signs loan agreements to help strengthen food security and potable water supplies in Côte d’Ivoire and Malawi
August 01, 2018
Search

OFID signs loan agreements to help strengthen food security and potable water supplies in Côte d’Ivoire and Malawi

Vienna, Austria, August 2, 2018. OFID – the OPEC Fund for International Development - has signed public sector loan agreements with Côte d’Ivoire and Malawi to help boost socio-economic development and living standards.

The agreements, totaling US$34 million, were signed by OFID Director-General Suleiman J Al-Herbish and Roger A Kacou, Ambassador of Côte d’Ivoire to Austria, and Michael B Kamphambe Nkhoma, Ambassador of Malawi to Germany.

Malawi’s US$15 million loan will co-finance the Karonga Town Water Supply Project, which aims to expand the capacity of potable water supplies in Malawi’s northern region, where demand is outpacing supply. An estimated 184,000 residents will be able to enjoy improved health and livelihoods. The project is also being financed by the Malawian government and the Arab Bank for Economic Development for Africa.

Al-Herbish said the loan represented OFID’s third involvement in helping strengthen the country’s water sector, which supports the government’s 2016-2022 Growth and Development Strategy with the view to reduce poverty through sustainable economic growth and infrastructure development.

Ambassador Nkhoma expressed his thanks and appreciation to OFID for its support of Malawi’s water and sanitation sector.

A US$19 million loan to Côte d’Ivoire will help fund the Agricultural Value Chains Development Program with the overall objective of stimulating economic growth and reducing poverty. This will be achieved through the repair and installation of rice and mango processing/packaging systems, upgrading of rural roads, development of farmland and institutional strengthening, and improving producers’ linkages with export and urban markets, among other works. In turn, living conditions and incomes will improve for around 180,000 people. The government of Côte d’Ivoire and the International Fund for Agricultural Development are also co-financing the program.

Al-Herbish said the project would help extremely vulnerable households presently coping with food insecurity and reiterated OFID’s continued interest in strengthening its cooperation with his country.

Ambassador Kacou thanked the Director-General and expressed his “deep gratitude” on behalf of the Ivorian people for OFID’s “efforts and constant commitment” to supporting his country’s socio-economic growth and development.

Share this
Scroll top
August 01, 2018

Search

Scroll top
Who We Are
  • At a Glance
  • Facts & Figures
  • Member Countries
  • The Organization
  • Partners
  • FAQs
What we offer
  • Overview
  • Public Sector Lending
  • Private Sector & Trade Finance
  • Grants
  • Special Initiatives
Operations
  • Procurement Notices
  • Search Operations
  • World Map
  • Countries A-Z
Investor Relations
  • Overview
  • Credit Fundamentals
  • Funding
  • Operations
  • Governance
  • Contact IR Team
Events
  • Development Forum 2025
  • SIDS Summit
  • Past Events
Procurement
  • Overview
  • Bidding
  • Supplier registration
  • Contact Procurement
Compliance Accountability & Integrity
  • Business Partner Code of Conduct
  • Personal Data Protection
  • Business Integrity Due Diligence
Administrative Tribunal
  • About the Tribunal
  • Judges
  • Executive Secretary
  • Contact the Tribunal
News
Career Opportunities
  • Vacancies
  • Young Professional Development Program
  • Internships
The OPEC Fund
for International
Development
Parkring 8
1010 Vienna
Austria
  • Copyright 2024 by the OPEC Fund
  • Fraud Alert
  • Personal Data Protection Disclaimer
  • Terms of use
  • Contact
  • Webmail

We use Cookies. Read our Terms