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OFID Governing Board Approves New Loans and Grants for Africa

June 17, 2011

VIENNA, Austria, June 17, 2011 /PRNewswire/ –

The Governing Board of the OPEC Fund for International Development
(OFID), meeting in its 135th Session, has approved over US$56 million in
loans and US$ 6 million in grants to address Africa’s needs. The funds will
be allocated to the energy, transportation, agriculture, health and
financial sectors.

The public sector loans comprise:

                                                                          Amount 

        Country    Project                                            (US$ mil.)
                   Agricultural Value Chain Development Program: To
                   help reduce poverty and improve food security, in
                   seven provinces populated by some 3.6 million
        Burundi    people.                                                 11.92
                   Bikoula - Djoum Road: To construct a 38 km road in
                   order to open up rural areas, especially in the
                   South Region, and help improve the access to basic
        Cameroon   social services and marketplaces.                       10.00
                   Energy Development and Access Expansion: To expand
                   the electricity grid to cover disadvantaged areas in
                   the Kanifing Municipality and rural settlements. At
                   least 10,000 new household connections and 1,700
        The Gambia business connections will be installed.                  6.00
                   Rural Electrification: To help the socio-economic
                   development through the electrification of 591 "load
                   centers," such as agricultural marketing and
                   processing centers; health facilities and
                   educational institutions. Installing new connections
        Kenya      for about 35,460 households is also planned.            15.00
                   Artisanal Fisheries Promotion: To improve incomes
                   and livelihoods of households involved in artisanal
                   fishing. An estimated 45,000 people will directly
        Mozambique benefit from the project.                               13.53
        Total                                                              56.45 

In addition, five grants for the Africa region totalling US$5.95 million
were approved. A US$2 million grant will further of a WHO project to fight
against HIV in Lesotho, South Africa, Zambia and Zimbabwe. Another grant of
US$1.5 million will help finance a food security and livelihood enhancement
program of IFAD, which will carry out activities in Djibouti, Ethiopia and
Somalia. A US$1.2 million grant will be divided among eight research
centers. To be channelled through the Institut Pasteur, a US$1 million grant
will support a project to upgrade a laboratory network for diagnosing
tuberculosis in eight African Countries. Finally, a US$250,000 grant will
help fund the provision of an initiative of the Shell Foundation, to provide
light for low-income households, reaching 130,000 people, in Kenya and
Tanzania.

        Mrs. Damelys Delgado
        Information Officer
        Email: D.Delgado@ofid.org
        Tel.: +43-1-515-64-304

SOURCE OFID


Source: newswire



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