Vienna, Austria - The OPEC Fund for International Development (the OPEC Fund) and the United Nations Industrial Development Organisation (UNIDO) have signed a joint declaration to deepen their partnership in securing energy access and promoting energy transition. They also signed a US$1.5 million technical assistance grant agreement in support of...

Vienna, Austria -- The OPEC Fund for International Development (OFID) will provide a $40 million loan to Vietnam Maritime Commercial Joint Stock Bank (MSB) for on-lending to small and medium-sized enterprises (SMEs). The loan will support at least 80 local businesses, providing financing to meet critical needs to grow their...

The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to energy across the African continent.

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.

The OPEC Fund has partnered with Pakistan since 1976 and provided US$ 925 million financing in public and private sector loans.

The grants were approved at the 179th session of OFID’s Governing Board in Vienna.

The amount will reportedly be given to the Vietnam-based Southeast Asia Commercial Joint Stock Bank (SeABank) for on-lending.

The OPEC Fund for International Development has approved $352 million for sustainable development operations globally at the organization’s 178th Session of the Governing Board, held virtually on Thursday, media reports said. Members of the Governing Board also reviewed several milestones achieved as part of the OPEC Fund Strategic Framework 2030,...

The OPEC Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and imports in critical sectors across Africa.

Located less than 20 km from Africa’s biggest solar park, Kom Ombo plant will add 200 MW of energy capacity Leading Saudi developer and investor ACWA Power will construct the plant ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants in 13 high-growth...

    The loan will be used for lending to small enterprises The lending is expected to drive the country's path to recovery   The OPEC Fund for International Development (OFID) has granted a $10 million private sector loan agreement with the Bank of Maldives, state news agency WAM reported....