OPEC approves new funds to boost socio-economic development in Africa


VIENNA, Austria, April 12, 2012/African Press Organization (APO)/ – The Governing Board of the OPEC Fund for International Development (OFID), meeting in its 138th Session, has approved over US$46 million in new loans and one grant to pursue socio-economic development in African countries. The loans are as follows:

Country: Chad

Project: Massakory-Ngouri-Bol Road. To construct a 99 km-long paved stretch to enhance the country’s trade opportunities and boost access to social services, marketplaces for some 800,000 people living in 40 villages.

US$m: 12.0

Country: Republic of Congo

Project: Blanche Gomes Hospital-Phase II. To expand this maternal/child care hospital located in the capital Brazzaville through the construction and equipping of a new 100-bed facility, thus doubling in-patient capacity.

US$m: 5.0

Country: Lesotho

Project: Metolong Water Supply (Supplementary Loan). To build dams, pumping stations and related infrastructure to deliver reliable water supplies to some 300,000 people in the capital Maseru and three outlying towns.

US$m: 3.0

Country: Malawi 

Project: Rural Livelihood and Economic Enhancement Program. To strengthen and improve farmers’ linkages to value chains and establishing more efficient production, transport, storage, processing and marketing systems, and in turn raise incomes and living standards. US$m: 10.0

Country: Senegal

Project: Dalal Jamm Hospital (Supplementary Loan). To construct and equip a 300-bed referral hospital that will serve over 1.4 million inhabitants living in Greater Dakar.

US$m: 6.0

Country: Sierra Leone

Project: Matotoka-Yiye Road. To rehabilitate a 70 km road that traverses key agricultural areas, thereby improving the transport of produce and inputs, as well as links to social services for some 960,000 people.

US$m: 10.0

TOTAL in loans approved: US$46 million

A grant of US$600,000 will help upgrade the Radiation and Isotopes Center in Khartoum, the Sudan, the largest radiotherapy facility in the country.

Since its inception, OFID has committed over US$13.8 billion in much-needed concessional development financing to 132 developing countries around the world, with priority given to the poorest amongst them.

Distributed by the African Press Organization on behalf of the OPEC Fund for International Development (OFID). 



OPEC Fund for International Development (OFID)

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