Press Release

OFID provides US$99.3 million to boost development efforts

09/2007 March 21, 2007 Vienna, Austria
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Nine developing countries in Africa, Asia, Latin America, the Caribbean and Europe are to benefit from fresh financing extended today by the OPEC Fund for International Development (OFID).

The loans, totaling US$99.3 million, will support projects with a wide variety of development aims. Objectives include rehabilitation of roads and provision of safe sanitation and water supplies, together with the renovation of health facilities and expansion of electrical power.

Support to private enterprise development is also included in this latest round of financing, which breaks down as follows:

The projects are all expected to begin implementation shortly and will bring

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 development financing to 119 developing countries worldwide. The financing includes project and program loans, balance of payments support and HIPC debt relief. Others are private sector financing and grant assistance, as well as contributions to other international institutions. This financing has helped raise living standards among thousands of needy communities.

For detailed information on individual projects, please visit the country profiles pages of the OFID website.