OPEC Fund approves over $600mln in new financing to strengthen connectivity, human capital, economic resilience
VIENNA: The OPEC Fund for International Development (OPEC Fund) has approved over US$600 million in new development financing to support sustainable infrastructure, private sector development, food security and human capital in partner countries across Africa, Asia, Latin America and the Caribbean.
The new projects were approved during the institution's 191st Governing Board meeting in Vienna. The new commitments reflect the OPEC Fund's efforts to promote inclusive and resilient growth in line with its strategic priorities.
OPEC Fund President Abdulhamid Alkhalifa said: 'These engagements are a significant demonstration of our commitment to building resilience and enabling inclusive development. From transport corridors to vocational training and financing small businesses the OPEC Fund is supporting practical solutions that align with our partners' priorities and deliver tangible results. We remain focused on driving sustainable development across regions and sectors.'
The latest approved projects include public and private sectors in Costa Rica, Nepal, Rwanda, Senegal, Tanzania, Côte d'Ivoire, Democratic Republic of the Congo and Nicaragua.
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