OFID signs loan agreements with seven partner countries
30.01.2013 | PR03/2013  

Vienna, Austria, January 30, 2013.

 

Ugandan Finance Minister HE Maria Kiwanuka and
OFID Director-General Mr. Suleiman J. Al-Herbish.

The OPEC Fund for International Development (OFID) has signed new loan agreements with seven partner countries in Africa, Asia and the Caribbean. The agreements were signed by Mr. Suleiman J. Al-Herbish, OFID Director-General, and various high ranking officials of the beneficiary countries.

Commenting on the loans, Mr. Al-Herbish pointed out that the majority of the funding would support projects in the water supply and sanitation, energy and transportation sectors, which would not only help boost socio-economic development in the partner countries, but would also “help improve health indicators, combat energy poverty and enable resource-poor communities to access basic services that those in the developed world often take for granted.”

The signed loan agreements comprise:

Country

Project

Amount
US$mil

Cuba Palma Soriano Water Supply and Sanitation System Rehabilitation. To upgrade the necessary infrastructure to provide safe drinking water supplies and modern waste treatment facilities for over 135,000 people. 16.0
Djibouti Support to the Economic Development Fund of Djibouti. To help entrepreneurs start and/or expand their own businesses through the issuance and management of around 500 loans to SMEs and young graduates. 3.0
Ghana Integrated Rural Development. To help fund a series of sub-projects that will construct basic infrastructure such as schools, health clinics and water supply sources, benefitting some 25,000 low-income households. 10.5
Guinea Five Towns Water Supply. To help alleviate poverty and improve living conditions for some 63,000 people through the construction of water supply infrastructure and installation of household connections. 7.0
Papua New Guinea Rural Primary Health Services Delivery. To construct two community health posts and rehabilitate eight existing aid posts and/or health centers in each of the 16 participating districts (a total of 32 community health posts and 128 health facilities). 9.0
Rwanda Electricity Access Scale-Up (Supplementary Loan). To improve access to reliable and cost-effective electricity services for households and priority public institutions (such as schools and health centers) in urban and peri-urban areas, as well as densely-populated rural areas presently unconnected to the grid. 12.0
Uganda Energy Development and Access Expansion. To carry out rural electrification works in the central and northern regions, with the aim to install nearly 15,000 new connections in households, trading centers, hospitals, health centers, schools and fish processing centers. 10.0
Uganda Masaka – Bukataka Road. To upgrade a 40.6 km-long stretch that is one of the primary means of mainland travel in the Kalangala District. On completion, the project will enhance socio-economic development from the facilitated access to marketplaces and social infrastructure. 15.0
Total   82.5

Since its inception, OFID has committed more than US$15.1 billion in support of sustainable development in 133 countries

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