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
    • Knowledge Series
    • SIDS Summit
    • Past Events
  • News (current)
  • Contact Us
  • Media Center
  • Publications
The OPEC Fund
for International
Development
  1. News
  2. OFID contributes to EUR68 million trade finance facility for Cameroon
May 28, 2018

OFID contributes to EUR68 million trade finance facility for Cameroon

OFID is participating in a syndicated Murabaha agreement arranged by the International Islamic Trade Finance Corporation (ITFC) to support the purchase and sale of crude oil to the Republic of Cameroon through its national refinery company (SONARA).

The total facility signed with Cameroon is EUR 68 million, of which OFID is contributing EUR 23 million. The remaining amount is being provided by the ITFC and other financial institutions.

OFID?s financing will help Cameroon finance its purchase of crude oil in the face of increasing domestic consumption. The availability of petroleum products and energy security in general is critical to economic and political stability.

Facilitating the import and export requirements of partner countries is just one of the ways OFID supports development, helping with inventory and working capital needs and supporting cross-border trade.

OFID has a long track record in Cameroon. Since 1976, the organization has disbursed more than US$ 145 million in various types of financing, of which nearly half has been committed to the transport and storage sector.

Share this
Scroll top
May 28, 2018
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
  • Knowledge Series
  • 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
  • Overview
  • 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