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June 2014, #7

OFID's Governing Board approves fresh financing to boost socio-economic development in Africa
image Meeting in its 147th Session, the Governing Board of the OPEC Fund for International Development (OFID) approved financing of over US$86 million to boost socio-economic development in partner countries in Africa.
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African NGOs receive OFID Annual Award for Development
image Two African NGOs have been selected as the recipients of the 2014 OFID Annual Award for Development. The two organisations, Kakenya Center for Excellence in Kenya and Ashesi University in Ghana, were selected based on their significant impact on promoting grassroots-level education within their communities...
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OFID signs line of credit agreement with Afreximbank to support bank in diversifying Africa’s exports
OFID and the African Export-Import Bank (Afreximbank) have signed a US$60m line of credit agreement that will help ensure the availability of resources for the bank’s trade finance activities.
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The miracle called Rwanda
image Two decades after one of the darkest chapters in its history, the Republic of Rwanda can proudly claim to be the third most favorable nation in which to do business in sub-Saharan Africa.
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Togo: A promising journey ahead
image The Government of Togo signed a US$6m loan agreement with OFID for a project designed to improve energy access among rural communities. Togolese Minister of Economy and Finance, Adji Otèth Ayassor, spoke with OFID about the project and development in general in his homeland.
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