2009-12-18 21:44:13
WAM VIENNA, Dec 14th, 2009: New financing totaling US$ 158.85 million was approved yesterday at the 129th Session of the Governing Board of the OPEC Fund for International Development (OFID) held in Vienna, Austria. The funds will support ten projects in Africa, Asia and the Caribbean, in the agriculture, education, energy, water supply and sewerage and transportation sectors. OFID Director-General, Mr. Suleiman J. Al-Herbish, remarked that the newly-approved financing would target sectors that OFID considered highly relevant for combating poverty in its partner countries. The bulk of the loans would support projects in the energy and transportation sectors, which would not only help boost socio-economic development among the beneficiary countries, but would also "assist in easing isolation and enable resource-poor communities to access basic services that many of us in the developed world take for granted." The 10 public sector loans comprise: Azerbaijan, Janub Power Plant, US$ 29.60 million.

Benin, Kandi-Segbana-Nigeria Border Road, 11.00 million Burundi Ntamba-Ndora Road 8.00 million.

Central African Republic Commodity Import Program, 9.30.

Jamaica Eastern Jamaica Rural Roads Rehabilitation,10.00.

Kenya Dundori Olkalou Njabini Road (Supplementary Loan), 10.00.

Morocco Rural Roads Rehabilitation and Construction - Phase II, 30.00 .

Sri Lanka Kalu Ganga Development 16.00 Tanzania Same Water Supply 12.00 Uganda Vocational Education 22.95 In addition, five grants totaling US$6.95 million were approved at the meeting. A US$3.5 million grant will co-finance an OFID/WHO (World Health Organization) Partnership on the Prevention of Transfusion-Transmitted HIV/AIDS and Hepatitis Infections in Priority Countries. Activities will be carried out in Bangladesh, Bhutan, Nepal and Pakistan. Another grant of US$2 million will support a project of the United Nations Development Program (UNDP) that will increase the efficiency of the use of water resources for irrigation purposes in the North Western districts in the West Bank. Also approved was a US$500,000 grant to co-finance a project created by the Center of Arab Women for Training and Research, with the view to help improve socio-economic conditions of women in Algeria, Egypt, Mauritania, Jordan, the Sudan and Yemen. Another US$500,000 grant will back the final phase of a Guinea Worm eradication program established by the Carter Center, which is undertaking activities in Ethiopia, Ghana, Mali, Niger, Nigeria and the Sudan. Finally, a US$450,000 grant will support poverty-reduction activities being carried out by the Austrian Red Cross in nine villages in the Rukum District in north Nepal.

Since its inception in 1976, OFID has provided over US$11.35 billion in much-needed concessional development financing to 121 developing countries around the world, with priority given to the poorest amongst them.

WAM/MMYS