OFID signs loan agreements to boost socioeconomic development in Côte d’Ivoire and Djibouti

The Director-General of OFID Suleiman J Al-Herbish has signed loan agreements totaling US$25 million with partner countries Djibouti and Côte d’Ivoire. The loans will co-finance projects aimed at helping to reduce poverty by targeting sectors accorded high priority by the respective governments.
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OFID works with partners to support Lebanon and Gulf Bank and boost SMEs in Lebanon

OFID has partnered with two development banks – the Dutch development bank FMO and the Austria-based Oesterreichische Entwicklungsbank AG (OeEB) – to sign a US$67.5 million loan to Lebanon and Gulf Bank (LGB BANK). The transaction was established by the efforts of OFID and Alpen Capital, the latter of which acted as the sole financial advisor. FMO acted as the mandated lead arranger and facility agent.
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