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Press Release
OFID provides US$44.1 million to boost development efforts
83/2006 December 13, 2006, Vienna, Austria
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The OPEC Fund for International Development (OFID) has finalized agreements for US$44.1 million in fresh financing for development. The announcement was made by OFID Director-General, Suleiman J. Al-Herbish. “These new resources will help four of our partner countries tackle some of their most pressing development priorities,” he said.
The loans will support projects with a wide variety of development aims, ranging from the provision of better healthcare and transportation links, to improved access to energy and water supplies.
The latest round of financing breaks down as follows:
| Country | Project | Amount (US$mil.) |
| Colombia | Bus Rapid Transport System (TransMilenio) | 20.0 |
| Eritrea | Asmara Radiotherapy Center | 1.0 |
| Senegal | Bel Air 60MW Power Plant | 8.7 |
| Senegal | Dalal Jamm Hospital | 10.4 |
| Zambia | Water Supply | 4.0 |
| Total | 44.1 |
The projects are all expected to begin implementation shortly and, on completion, will bring a host of benefits to the concerned countries.
To date, OFID has provided more than US$8 billion in much needed concessional development financing to 120 developing countries worldwide, thereby raising hopes and living standards among thousands of needy communities.
For detailed information on individual projects, please visit the country profiles pages of the OFID website.