Press Releases
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Press Release
OFID provides US$97.9 million to boost development efforts
78/2006 September 7, 2006, Vienna, Austria
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Eleven developing countries in Africa, Asia and Latin America are to benefit from fresh financing extended today by the OPEC Fund for International Development (OFID).
The loans, totaling US$97.9 million, will support projects with a wide variety of development aims, ranging from the construction of hospitals and upgrading of key transport corridors, to the improvement of water supply and sanitation systems and the enhancement of rural infrastructure. In addition, debt relief is being provided under the Enhanced Heavily Indebted Poor Countries Initiative.
Support to private enterprise development is also included in this latest round of financing, which breaks down as follows:
| Country | Project | Amount (US$mil.) |
| Cuba | Havana Province Irrigation Systems Modernization | 10.0 |
| Jordan | Children’s Hospital at King Hussein Medical City | 10.0 |
| Kenya | Dundori-Ol Kalou-Njabini Road | 10.0 |
| Mauritius | Pailles Guibies Sewerage | 4.0 |
| Mozambique | Matola General Hospital | 5.0 |
| Mozambique | Electricity IV | 10.4 |
| Pakistan | Doubling of Track from Lodhran to Khanewal via Multan | 10.0 |
| Rwanda | HIPC II Debt Relief | 7.0 |
| Seychelles | Perseverance Island Infrastructure | 6.5 |
| Sierra Leone | Bumbuna Hydroelectric Power | 10.0 |
| Vietnam | Thai Nguyen Province Multipurpose Rural Development | 10.0 |
| Private Sector Entity | ||
| Nicaragua | Procredit Nicaragua | 5.0 |
| Total | 97.9 |
The projects are all expected to begin implementation shortly and will bring a host of benefits to communities in the participating countries.
To date, OFID has provided more than US$8 billion in much needed concessional development financing to 120 developing countries worldwide, thereby raising hopes and living standards among thousands of needy communities.