Development News 2025 Q3

Fertilizing growth in Senegal 

The agriculture sector is a key driver of the Senegalese economy, employing about two-thirds of the population and contributing more than 15 percent to the GDP. Yet the country must rely on imports for the vast majority of its food needs. 

A new €100 million OPEC Fund loan aims to ease the situation by financing a subsidy program for fertilizers and seeds, including peanuts, maize, sorghum and watermelon. The OPEC Fund joins other development finance institutions such as BADEA and TDB in this project, which also includes the purchase and processing of 300,000 tonnes of peanuts for sale. 

The project helps increase production, strengthen food security and raise household incomes in the West African nation. More than 800,000 households are expected to profit, while nearly 10,000 employees, more than 85 percent of whom are women, will also benefit. 

Connectivity in Costa Rica 

The Inter-American Highway links Mexico and Panama and has served as a vital artery within Costa Rica since its construction in 1960. 

The San Jose-San Ramon Corridor is a key section and links those two cities with one of Central America’s busiest airports. Over the past two decades, Costa Rica’s rapid population growth and surging trade has overwhelmed the road’s capacity. 

A new €180 million loan from the OPEC Fund will finance the expansion and improvement of more than 55 kilometers of the corridor as well as the construction of a new section that will connect the corridor with a key regional route. The completed corridor will reduce congestion, improve road safety and stimulate economic and social development. 

Boosting aviation in Rwanda 

Positioning Rwanda as a regional service, tourism and conference hub, national authorities are boosting air transport in the landlocked African country. 

Yet only one in five pilots in the country are locals. A US$27.95 million financing from the OPEC Fund for the establishment of a Center for Excellence at the Kigali International Airport will help address the shortage of a skilled workforce – not only pilots, but air traffic control, maintenance and aviation safety. Creating a pool of highly-qualified aviation professionals will also address Rwanda’s high women and youth unemployment. 

A strategic rail corridor in Türkiye 

The OPEC Fund is committing €150 million to support the development of a high-standard electrified railway in eastern Türkiye. 

The Kars-Iğdır-Aralık-Dilucu Railway Project will enhance transport connectivity, reduce travel time and increase cross-border trade linking Europe and Asia. The project involves the construction of a 224 km electrified railway as well as the construction of stations, tunnels, viaducts and bridges. It will improve freight and passenger logistics, strengthen regional economic integration and provide a vital trade link.

The new railway link will strengthen Turkey's role as a regional and transcontinental transit hub. 

Supporting women’s empowerment and social inclusion in Honduras 

Honduras has one of the lowest per capita incomes in Latin America due to limited economic opportunities and significant disparities. A new US$80 million loan from the OPEC Fund will support the development of vulnerable and underserved communities. The loan joins CAF – Development Bank of Latin America and the Caribbean – in supporting a program structured around three main pillars: Empowerment of women, inclusion of individuals with disabilities and promotion of indigenous and Afro-Honduran communities. 

The program supports a series of new policies, regulatory reforms and institutional changes that aim to reduce inequalities among the targeted groups. A newly established Secretariat for Women will govern gender equality policies, the provision of financial support and self-employment to Hondurans with disabilities and the improvement of living conditions for the 60 percent of the ethnic population that lives in informal, low-income neighborhoods. 

Cutting poverty and isolation in Liberia 

The Mano River Union, comprising Liberia, Sierra Leone, Guinea and Côte d'Ivoire, is an especially fragile region of Africa with growth held back by poor infrastructure. 

A new US$20 million loan from the OPEC Fund will upgrade nearly 50 km of gravel road to an all-weather surface. The project, co-financed by the African Development Bank, will improve accessibility for goods from farm to market and for residents to basic services such as healthcare and education. As many as 300,000 people are expected to benefit from the project, more than two-thirds of which live in rural areas. 

Supporting economic resilience and social inclusion in Botswana 

A new US$200 million loan to Botswana will finance the country’s Governance and Economic Resilience Support Program. 

The project aims to curb illicit financial flows and improve efficiency, transparency and accountability in public spending, as well as create the fiscal space for investments in private sector-led growth. Measures supported by the program will address gender gaps and impact youth, skills employment and unemployment. 

Growing Cameroon’s rice industry 

Rice is a main staple food in Cameroon, yet the production potential is underexploited, contributing to a large gap between supply and demand. 

By increasing rice production and productivity for smallholder farmers, the Central African country can improve food security. To support the rice industry the OPEC Fund is providing a US$25 million loan to Cameroon to develop 5,000 hectare of paddy field and its irrigation network.