PRN: OFID Governing Board Approves New Loans and Grants for Africa

PRN: OFID Governing Board Approves New Loans and Grants for Africa.

Persone Damelys Delgado
Luoghi Kanifing Municipality, Burundi, Cameroon, Djibouti, Ethiopia, Austria, Kenya, Gambia, Lesotho, Mozambique, South Africa, Tanzania, Zambia, Zimbabwe, Africa, Somalia, Wien
Organizzazioni Shell Foundation, Approves New Loans, International Fund for Agricultural Development
Argomenti economics, finance, agriculture, commerce

17/giu/2011 14.54.23 PR Newswire Turismo Contatta l'autore

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OFID Governing Board Approves New Loans and Grants for Africa


VIENNA, Austria, June 17, 2011 /PRNewswire/ --

The Governing Board of the OPEC Fund for International Development (OFID), meeting in its 135th Session, has approved over US$56 million in loans and US$ 6 million in grants to address Africa's needs. The funds will be allocated to the energy, transportation, agriculture, health and financial sectors.

The public sector loans comprise:  

                                                                         Amount       Country    Project                                            (US$ mil.)                Agricultural Value Chain Development Program: To                help reduce poverty and improve food security, in                seven provinces populated by some 3.6 million     Burundi    people.                                                 11.92                Bikoula - Djoum Road: To construct a 38 km road in                order to open up rural areas, especially in the                South Region, and help improve the access to basic     Cameroon   social services and marketplaces.                       10.00                Energy Development and Access Expansion: To expand                the electricity grid to cover disadvantaged areas in                the Kanifing Municipality and rural settlements. At                least 10,000 new household connections and 1,700     The Gambia business connections will be installed.                  6.00                Rural Electrification: To help the socio-economic                development through the electrification of 591 "load                centers," such as agricultural marketing and                processing centers; health facilities and                educational institutions. Installing new connections     Kenya      for about 35,460 households is also planned.            15.00                Artisanal Fisheries Promotion: To improve incomes                and livelihoods of households involved in artisanal                fishing. An estimated 45,000 people will directly     Mozambique benefit from the project.                               13.53     Total                                                              56.45 

In addition, five grants for the Africa region totalling US$5.95 million were approved. A US$2 million grant will further of a WHO project to fight against HIV in Lesotho, South Africa, Zambia and Zimbabwe. Another grant of US$1.5 million will help finance a food security and livelihood enhancement program of IFAD, which will carry out activities in Djibouti, Ethiopia and Somalia. A US$1.2 million grant will be divided among eight research centers. To be channelled through the Institut Pasteur, a US$1 million grant will support a project to upgrade a laboratory network for diagnosing tuberculosis in eight African Countries. Finally, a US$250,000 grant will help fund the provision of an initiative of the Shell Foundation, to provide light for low-income households, reaching 130,000 people, in Kenya and Tanzania.

Mrs. Damelys Delgado
Information Officer
Tel.: +43-1-515-64-304

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