Dubai, UAE -- The OPEC Fund for International Development (OFID) has committed a US$27 billion to support 4,000 development projects in over 125 countries since its inception, said Dr. Abdulhamid Alkhalifa, OFID Director-General. In 2023, funding reached a record $1.7 billion through 55 projects worldwide, bolstering initiatives promoting social and...
OFID to provide $25m for Niger’s solar energy development
Vienna, Austria - The OPEC Fund for International Development (OFID) is offering a US$25 million loan for solar energy development in Niger, scaling up electrification and access to renewable energy in the country. The loan will be provided to Solar Plant Development and Electricity Access Improvement Project (RANAA). The OPEC...
OPEC Fund approves over $500 million in new global development support
The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the adoption of its first dedicated Climate Action Plan earlier this year.
OFID to finance $14.3 million for Nigeria-Morocco Gas Pipeline’s study
Morocco and the OPEC Fund for International Development (OFID) have signed the pact on the partial funding of the second phase of the Nigeria-Morocco Gas Pipeline (NMGP) project's Front End Engineering Study (FEED). "Through an exchange of correspondence with OFID Director-General Abdulhamid Al Khalifa and with Amina Benkhadra, Director-General of...OPEC Fund approves $233 million for development projects
The grants were approved at the 179th session of OFID’s Governing Board in Vienna.
OPEC Fund extends $35m loan to support Vietnam SMEs
The amount will reportedly be given to the Vietnam-based Southeast Asia Commercial Joint Stock Bank (SeABank) for on-lending.
OFID’s $80m loan expected to boost trade in Africa
The OPEC Fund for International Development (OFID) has signed an $80 million loan agreement with the African Export-Import Bank (Afreximbank) to finance international trade directly among corporates or through financial intermediaries.
OFID to support Paraguay SMEs, agriculture
OFID has signed a term loan agreement for $30 million with Banco Regional of Paraguay, the third of its kind to the country. Proceeds from the first tranche were loaned to the agriculture sector. The second facility provided 53 sub-loans to Paraguayan enterprises for international trade finance purpose.
OFID lends Jordan $70m to boost economy
The loan is expected to be used to provide for stimulus packages to for workers and create new jobs.
OFID lends $25 million to Banco Ficohsa to bolster SMEs in Honduras
The bank is expected to use this to grant further loans to SMEs hit by Covid-19 and hurricanes This is the fourth OFID loan to Banco Ficohsa The OPEC Fund for International Development has sanctioned a loan of $25 million to Honduran lender Banco Ficohsa, said local reports on Friday,...
