- OPEC Fund supports two African partner countries: Tanzania and Senegal
OPEC Fund supports two African partner countries: Tanzania and Senegal
September 9, 2014, Vienna, Austria. The OPEC Fund for International Development has signed three new loan agreements totaling nearly US$34 million with partner countries Senegal and Tanzania to help boost socio-economic development and improve living conditions. OPEC Fund has had a long-standing cooperation with both countries since the institution’s establishment in 1976. The agreements were signed by OPEC Fund Director-General Mr Suleiman J Al-Herbish and HE Philip S Marmo, Ambassador of Tanzania to Germany, and HE El Hadji Abdoul Aziz Ndiaye, Ambassador of Senegal to Germany.
The projects being co-financed by OPEC Fund, along with the Tanzanian government, comprise:
At the signature ceremony, HE Marmo said: “Tanzania is striving to achieve the Millennium Development Goals and these projects will help us achieve this goal.” He added that the loan for the Third Education Project would “go a long way” in helping strengthen Tanzania’s education sector. Mr Al-Herbish thanked the Ambassador and said that OPEC Fund looked forward to maintaining its steadfast partnership with the country and pursuing future avenues of cooperation.
The loan to Senegal will support the Dakar’s ‘Zone Soleil’ Sanitation project, which will also be funded by the government of Senegal. OPEC Fund will provide US$7m to support the improvement of sanitation infrastructure in Pikine, a suburb of the capital Dakar. This will not only improve living conditions but also help prevent flooding during the rainy season, which presently poses a significant health risk to the 43,000-strong population residing in the project area.
After signing the agreement, the Senegalese ambassador thanked Mr Al-Herbish for OPEC Fund’s support, which spanned over nearly four decades. Continuing, the ambassador spoke of 27 projects that his government had identified as being vital for the country’s economic and social development, and that they were seeking further support from institutions such as OPEC Fund. Mr Al-Herbish assured the ambassador of OPEC Fund’s continued cooperation in helping raise living standards and reducing poverty in the country .
OPEC Fund has approved public sector loans totaling nearly US$270m in support of the country’s energy, transportation, water supply and sanitation, industry, education, health and agriculture sectors. Balance of payments support has also been provided. Tanzania has also benefited from regional and national grants in the areas of agriculture, education, HIV/AIDS mitigation/prevention and initiatives aimed at tackling energy poverty and food insecurity, among other schemes.
OPEC Fund has approved over US$200m in loans and grants to Senegal. These include co-financing of public sector projects in the transportation, agriculture, industry, energy, education, health and water supply and sanitation sectors, as well as providing balance of payment support. Regional and national grants supported, among others, HIV/AIDS prevention, care and support, agriculture and food security schemes, as well as projects aimed at expanding energy access and providing safe water supplies. Under its private sector lending window, OPEC Fund extended US$26m to Aeroport International Blaise Diagne for the development and operation of a greenfield airport in the capital Dakar.