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Press Release
OFID releases US$303 million in fresh financing for development
34/2007 December 5, 2007 Vienna, Austria
Press inquiries:
New financing amounting to US$303 million was approved yesterday at the 121st Session of the Governing Board of the OPEC Fund for International Development (OFID). The funds will support projects in needy countries in Africa, Asia and Latin America and The Caribbean Commenting on the substantial amount of financing, OFID Director-General, Mr. Suleiman J. Al-Herbish said that it reflected “an intensification in OFID’s activities, which are set to double over the next three years.”
The 20 public sector project loans comprise:
| Country | Project | Amount (US$mil.) |
| Cape Verde | Reinforcement of Electricity Production and Distribution System |
12.40 |
| China | Yunnan Vocational Education |
16.00 |
| Colombia | La Linea (II Centennial) Tunnel | 30.00 |
| Colombia | Buga-Buenaventura Highway | 20.00 |
| Dominican Republic | Multiphase Roads Rehabilitation and Maintenance | 30.00 |
| Egypt | Grain Silos (Phase II) | 10.00 |
| Malawi | Second National Water Development | 10.00 |
| Nepal | Rural Reconstruction and Rehabilitation | 10.00 |
| Niger | Niamey-Ouallam Road | 12.00 |
| Papua New Guinea | Lae Port Development | 6.00 |
| Philippines | Second Cordillera Highland Agricultural Resource Management (CHARMP II) | 10.00 |
| Philippines | Agrarian Reform Communities, Phase II |
30.00 |
| St. Kitts and Nevis | Basseterre Port Development | 6.00 |
| São Tomé and Príncipe | São Tomé Water Supply | 2.50 |
| Swaziland | Sicunusa-Nhlangano Road | 25.00 |
| Tajikistan | Dushanbe-Kyrgyz Border Road Rehabilitation (Phase II) |
3.50 |
| Tanzania | Ole-Kengeja Road | 11.00 |
| Tunisia | Rural Roads Integrated Construction | 24.00 |
| Turkey | Bursa Light Rail System | 30.00 |
| Uzbekistan | Secondary Schools Construction | 5.00 |
| Total | 303.40 |
A further US$7.1 million was released in grant assistance (see press release 35\2007), bringing total cumulative commitments to over US$9.1 billion.