- OFID signs three loan agreements to boost socio-economic development in partner countries
OFID signs three loan agreements to boost socio-economic development in partner countries
On April 21, 2012, OFID Director-General, Mr. Suleiman J. Al-Herbish, signed three loan agreements with the Ministers of Finance of Burundi, Nicaragua and Panama in support of the transport, energy and water supply and sanitation sectors respectively, for a total amount of US$44 million. The agreements were signed on the sidelines of the IMF and World Bank Spring Meetings held from April 20 – 22 in Washington, DC. The loan agreements are as follows:
Mr. Al-Herbish congratulated the Ministers on their countries' progress in enhancing socio-economic development in their respective countries. The Director-General affirmed OFID’s continuing support, particularly for energy-related projects as the institution was strongly committed to supporting its partner countries’ efforts towards combating energy poverty.