The Governing Board of the OPEC Fund for International Development (the OPEC Fund) convened for its 197th session today. Since its previous session, the OPEC Fund has approved US$645 million in new financing for operations across 14 partner countries. The financing will strengthen water and energy security, improve transport connectivity, advance economic and financial sector reform, and expand access to finance for businesses and farmers.
OPEC Fund President Abdulhamid Alkhalifa said: “These investments address essential foundations of sustainable development: reliable water and energy, resilient infrastructure, effective economic institutions and access to finance. By working across the public and private sectors, the OPEC Fund is helping partner countries overcome immediate constraints while creating the conditions for greater opportunity and long-term resilience.” The new financing comprises US$435 million for public sector development projects and US$210 million for private sector operations. Argentina: Two loans totaling US$65 million will support the "Bi-Provincial Santa Fe-Córdoba Water Supply Project", delivering safe drinking water to more than 410,000 people across 54 communities along National Route No.34 in the provinces of Santa Fe and Córdoba.
Belize: A US$30 million loan will finance the upgrade a 23.6 km stretch of Belize's main east-west highway, including the construction of a new bridge, flood-resilient embankments and a wildlife crossing. Cambodia: A US$25 million policy-based loan will support the "Inclusive and Sustainable Finance Development Program", strengthening the capacity, stability and performance of Cambodia's banking and non-banking finance sectors. El Salvador: A US$30 million loan will improve urban mobility and road connectivity in the San Salvador Metropolitan Area, reducing congestion and travel times by financing the upgrade of 2.4 km of road and contributing to the completion of new grade-separated interchanges along two of the main urban corridors. Morocco: A US$150 million investment will help finance a major new dam designed to improve water security and climate resilience by reducing flood risks and supporting sustainable agriculture.
Sierra Leone: A US$45 million loan will support the "Bumbuna-1 Hydroelectric Power Station Expansion Project", adding 60 MW of renewable generation capacity for approximately 1.4 million people in the capital, Freetown. Sri Lanka: A US$30 million policy-based loan will support structural reforms aimed at increasing investment and creating jobs, including measures to lower trade barriers and strengthen the financial sector. Tajikistan: A US$30 million loan will help finance Phase 1 of the "Rushan-Varshez Road Rehabilitation Project", reconstructing an 82.2 km section of the Dushanbe-Kulma-China Border highway.
Zambia: A US$30 million loan will support the "Zambia Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) Program", reinforcing electricity distribution networks across 10 provinces. Armenia: A US$30 million loan to one of Armenia's leading privately owned banks will expand financing for small and medium-sized enterprises (SMEs) across the country. Azerbaijan: A US$40 million senior secured project loan will support the "Caspian Sea Water Desalination Project" in Sumgayit, the country’s first large-scale seawater desalination plant.
Azerbaijan: A US$20 million senior loan to a local financial institution will expand access to finance for micro, small and medium-sized enterprises (MSMEs), including women-owned businesses. Kazakhstan: The OPEC Fund's first private sector financing in the country - a US$30 million loan to a local financial institution – will support lending to SMEs and agribusinesses. Oman: Financing of up to US$40 million will support the construction of the Plaza District within Yiti Sustainable City, a mixed-use development targeting net-zero emissions by 2040.
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