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Press Release
OFID provides US$214 million to boost development efforts
26/2007 September 7, 2007 Vienna, Austria
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Twenty-one developing countries in Africa, Asia, Latin America and the Caribbean are to benefit from fresh financing extended September 5-6 by the OPEC Fund for International Development (OFID).
The loans, totaling US$214.39 million, will support projects with a wide variety of development objectives. The aims include rehabilitation and/or construction of bridges, roads and railways, building of schools and upgrading of irrigation systems and water supply networks, as well as improvement of basic infrastructure.
| Country | Project | Amount (US$mil.) |
| Cambodia | Railway Rehabilitation |
13.00 |
| Benin | Cotonou East Coast Protection |
8.00 |
| Burkina Faso | Samendeni Valley Integrated Development |
7.00 |
| Côte d’Ivoire | Jacqueville Bridge | 5.00 |
| The Gambia | Third Public Works | 4.00 |
| The Gambia | Highway and Streets Lighting | 4.00 |
| Ghana | Primary Schools | 8.50 |
| Guatemala | Sustainable Management of the Lake Amatitlan Watershed Province |
5.00 |
| Guinea | Labé-Seriba-Madina Gounass Road | 8.70 |
| Haiti | Small Scale Schemes Irrigation Development (Phase II) |
8.04 |
| Lebanon | Northern Coastal Road (Phase II) | 10.00 |
| Lesotho | Metolong Water Supply | 6.00 |
| Madagascar | Saint Marie Island Infrastructure Rehabilitation |
2.80 |
| Myanmar | Thonze and Kabaung Irrigation | 20.00 |
| Pakistan | Establishment of Government Institute of Emerging Technologies at Lahore |
5.25 |
| Sudan | El Rahad Scheme Rehabilitation | 20.60 |
| Syria | Arab Gas Pipeline | 30.00 |
| Syria | North Eastern Region Rural Development |
17.00 |
| Tajikistan | Regional Interconnection Transmission | 8.50 |
| Tanzania | Mwanza Airport | 6.00 |
| Vietnam | Lai Chau Province Irrigation Development |
7.00 |
| Yemen | Third Public Works | 10.00 |
| Total | 214.39 |
Implementation of the projects is expected to begin shortly and will bring numerous benefits to communities in the participating countries.
To date, OFID has provided more than US$9 billion in much needed development financing to 121 developing countries worldwide. The financing includes project and program loans, balance of payments support and HIPC debt relief, as well as financing under its recently-established Trade Finance Facility. Others are private sector financing and grant assistance, as well as contributions to other international institutions, such as the Common Fund for Commodities and the International Fund for Agricultural Development. These resources have helped raise living standards among thousands of needy communities.
For detailed information on individual projects, please visit the country profiles pages of the OFID website.