OFID approves loans and grants to benefit 17 African countries

Vienna, Austria, June 17, 2013. The Governing Board of the OPEC Fund for OFID, meeting in its 143rd Session on June 13, has approved loans and grants totaling nearly US$114 million to boost socio-economic development in 17 partner countries in Africa

The approved public sector loans are as follows:

Five grants were also approved at the meeting in support of the following projects/programs:

In addition to the public sector projects approved at the meeting, a financing facility was approved under OFID’s private sector lending window that will help a financial institutions in Ghana expand its financing services to increase on-lending to growth sectors such as mining, oil and gas, energy and telecommunications. Another financing facility under OFID’s Trade Finance Facility was approved that will support the import and export of strategic commodities in Ghana.