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- Public Sector Window
Public Sector Window
Public sector lending forms the central pillar of the OPEC Fund’s operations, accounting for more than two-thirds of total, cumulative commitments. Operations through this window are carried out in direct cooperation with the governments of partner countries in support of their national development strategies.
Lending activities are structured within the framework of lending programs which determine the countries eligible for assistance, the types of loans to be extended and the amount of financial resources to be allocated to each country. Each lending program is established on the basis of objective and recognized criteria, taking into consideration the social, economic and financial indicators of eligible countries.
The OPEC Fund’s public sector loans are concessional, with low interest rates and long repayment periods. Lending terms are based on several factors, including the per capita gross national income (GNI) of each beneficiary country.
Generally, the government of the eligible partner country makes a request through the minister in charge of mobilizing foreign assistance―usually the finance minister. This triggers the OPEC Fund’s internal project preparation and review cycle.
Yes. However, in line with the principles of harmonization and avoidance of duplication, appraisal may also be entrusted to an appropriate international development agency or a UN specialized agency.
The OPEC Fund encourages the government to participate in the financing of its projects and to include participation of the project beneficiaries when appropriate.