OPEC Fund approves COVID-19-related loan to Guatemala, supports WHO efforts in Latin America

Vienna, Austria, June 17, 2020.  The OPEC Fund for International Development (the OPEC Fund) has approved a US$10 million public sector loan to support Guatemala’s COVID-19 emergency response and public health strategy. The organization has also approved emergency aid grants to support COVID-19-related World Health Organization (WHO) efforts in Latin America.  

The Guatemala loan will enable the Central American country to strengthen case detection, community health worker training, emergency care infrastructure and help with other essential COVID-19-related activities. The World Bank and the Guatemalan government are also supporting the project. 

OPEC Fund grants totaling US$1,000,000 were channeled through WHO to support the purchase and distribution of much needed consumables and equipment related to the health crisis in Ecuador and Venezuela. 

OPEC Fund Director-General Dr Abdulhamid Alkhalifa said: “This is the time for the development community to come together to meet the urgent needs of developing countries. We need to be flexible and responsive to quickly changing circumstances and make sure assistance reaches those who need it most, and fast. The OPEC Fund is committed to doing everything possible to support developing countries’ efforts to mitigate, contain and recover from the destabilizing effects of the COVID-19 pandemic.” 

The OPEC Fund has dedicated US$1 billion toward COVID-19 impact and recovery efforts in developing countries (see press release E10/2020) and has joined forces with many other development institutions to maximize impact. 

About the OPEC Fund 
The OPEC Fund is the development finance institution established by the Member States of OPEC in 1976 as a channel of aid to developing countries. The OPEC Fund works in cooperation with developing country partners and the international donor community to stimulate economic growth and alleviate poverty in all disadvantaged regions of the world. It does this by providing financing to build essential infrastructure, strengthen social services and promote productivity, competitiveness and trade. The OPEC Fund's work is people-centered, focusing on projects that meet basic needs – such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. The OPEC Fund aims to encourage self-reliance and inspire hope for the future.