Latest approvals sharpen focus on energy poverty alleviation

As part of its commitment to the Energy for the Poor Initiative, on September 12, 2012, OFID's Governing Board met at its 140th session and approved over US$100 million in public sector loans and grant funding to help bolster the energy sector in partner countries. Commenting on the fresh funding, OFID Director-General, Mr. Suleiman J. Al-Herbish, said: "OFID has embraced the Sustainable Energy for All Initiative, having supported projects that best meet the needs of its partner countries - without imposing any conditionalities. OFID has supported projects that range from the construction and rehabilitation of power plants and installation of natural gas pipelines, to the construction of wind farms and solar energy systems. This has been made possible thanks to the support of OFID Member Countries and a long-standing cooperation with a host of financial partners."

The energy-related public sector loans approved at the meeting comprise the following:

The Board also approved grants that will fund two energy initiatives:

See press release 15/2012 for a complete list of projects/grants approved at the meeting that will support the agriculture, education, health and transportation sectors. .

See also: RIO+20: OFID commits US$1 billion to address Energy Poverty Alleviation