08.03.2012 | PR03/2012
On March 7 ministers and ambassadors from Cameroon, CAR, Grenada, Guinea, Malawi, Rwanda
and Vietnam were at OFID to attend a group loan signature ceremony. Ethiopia signed its agreement on March 8.
The OPEC Fund for International Development (OFID) has signed eight concessional loan agreements with eight partner countries to co-finance projects that aim at alleviating poverty and raising living standards for several million people in Africa, Asia and the Caribbean. The agreements were signed by Mr. Suleiman J. Al-Herbish, OFID Director-General, and Finance Ministers and Ambassadors of the beneficiary countries.
Commenting on the newly-signed loans, Mr. Al-Herbish said: “The diversity of sectors being financed will target areas instrumental in promoting socio-economic development and tackling poverty; such as providing communities with safe drinking water and modern energy supplies and helping develop rural infrastructure.”
The signed loan agreements comprise:
||Water Supply. To co-finance a project that will carry out activities in seven localities in the south, eastern and central regions to provide some 30,000 people with sustainable access to safe drinking water.
|Central African Republic
||Rehabilitation and Extension of Bambari and Bozoum Water Supply and Sewerage Systems. To help address drinking water shortages and improve sanitation services for roughly 74,000 people.
||Gode-Kebridehar 132 KV Power Transmission. To expand the country’s national grid and provide electricity connections to 34 towns and villages.
||Schools Rehabilitation Project – Phase I. To rehabilitate and equip 10 schools and seven school kitchens. On completion, some 7,900 children are expected to enrol each year at the refurbished schools.
||National Program to Support Agriculture Value Chains. To help decrease agricultural losses and improve yields for some 50,000 farmers and their families by rehabilitating and constructing rural infrastructure.
||Zomba-Jali-Chitakale Road. (Supplementary Loan). This loan will help complete the upgrading of a key road to provide the population with swifter, year-round access to marketplaces and social services.
||Rubengera-Gasiza Road. To build a 23.6 km-long road in the Western Province, thus enhancing access to social services, marketplaces and agricultural production zones for some 1.8 million people.
||Coastal Infrastructure Development. To help finance a series of small-scale projects that will be implemented in the Thanh Hoa and Ha Tinh provinces, two of the country’s poorest areas, benefiting at least 830,000 individuals.
Since its inception, OFID has committed more than US$13.8 billion in support of sustainable development in 132 countries.