VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to support the agricultural and food production sectors, prioritizing 11 cities hit by the devastating earthquakes of February 2023. The Development and Investment Bank of Türkiye (TKYB) will on-lend the funds...
OFID’s US$25.5m loan to strengthen vocational education in Benin
VIENNA, AUSTRIA - The OPEC Fund for International Development (OFID) is extending a US$25.5 million loan to the Government of Benin to strengthen the technical and professional competences of the country’s workforce. The Ouidah Djougou Vocational Training Schools Project will support the transformation of the technical high schools in Djougou...OFID, partners offer $60m loan to Tanzania for renewable energy
VIENNA, AUSTRIA - A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected to significantly strengthen energy security in northwest Tanzania. The project will include constructing a 166km overhead transmission line connecting the Kagera region to the national grid, replacing the current energy...
OPEC Fund to support SMEs in Paraguay with US$50mn funding
Vienna, Austria— Continuing with its initiative to support businesses across the world, the OPEC Fund for International Development (the OPEC Fund) is providing a US$50 million loan to Banco Continental in Paraguay for on-lending to small- and medium-sized enterprises (SMEs) in agricultural and livestock sectors. The investment is part of...Energy security vital for economic growth, says Saudi minister
Saudi Arabia's Minister of Finance Mohammed bin Abdullah Al-Jadaan said energy security is very important for the economic growth and prosperity of countries in the world
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 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,...
