Several projects in African countries are expected to secure multi-million dollar funding from the OPEC Fund for International Development (OPEC Fund), which aims to boost economic growth and social progress in low- and middle-income countries around the world.

In a meeting on Wednesday, the OPEC Fund approved $ 352 million to support various projects, including loans to small and medium-sized enterprises (SMEs), roads, power grids, water supply systems , health centers, schools and warehouses.

Part of the funds will also go to countries in the Americas, Central Asia and Southeast Europe, including Turkmenistan, Nicaragua, the Dominican Republic and Bosnia and Herzegovina.

In a statement, the OPEC Fund said the newly approved funding of $ 352 will support the following public sector projects:

Ivory Coast: $ 60 million loan for the North Agro-Industrial Pole Project (2 PAI-North), which includes the construction and rehabilitation of rural roads, health centers and schools, warehouses and collection centers , as well as infrastructure related to fishing and breeding. It will strengthen food security and household incomes of around 400,000 people and promote the export of cash crops.

Ghana:A loan of $ 20 million for the Integrated Rural Development Project (Phase 2), which will expand socio-economic infrastructure and improve the livelihoods of some 120,000 people in very poor districts. The funds will be used to build and equip classrooms, housing for teachers, clinics, market infrastructure and drainage works, as well as to provide credit to some SMEs.

Kenya:$ 40 million loan for the Five County Urban Roads Development Project – Phase 1, which is expected to facilitate trade, improve access to social services and markets, and increase employment opportunities.

Lesotho: $ 19 million loan for the Landscape and Livelihoods Regeneration Project (ROLL), which will improve livelihoods, promote resource use practices and reduce environmental degradation in more than 2,200 villages populated by 630,000 people.

Malawi: $ 15 million loan for the Town of Dowa Water Supply and Sanitation Project which will include the construction of a water treatment plant, a pumping station and a water distribution pipeline. 51 kilometers long, as well as the installation of new municipal water points and the rehabilitation of existing ones.

Nicaragua: $ 23 million loan for the Empalme La Tronquera – Pueblo Nuevo Rural Road Project, which includes the upgrading of a 22-kilometer road to facilitate transport of crops to markets and improve connectivity to social services and agricultural opportunities. ‘use.

Rwanda:$ 18 million loan for the Nyacyonga-Mukoto road project, which aims to modernize a 36-kilometer stretch to improve connections for 2.8 million people engaged in economic activities such as farming, mining mining and tourism.

Turkmenistan: Loan of $ 45 million for the marine merchant fleet project. It will include the construction of three new ships for rail, passenger and dry freight. Once operational, the new ships will increase the use of the seaport of Turkmenbashi on the Caspian Sea, which is part of the Europe-Caucasus-Asia transport corridor and one of the largest ports in the country.

Bosnia Herzegovina: Loan of 25 million euros (US $ 27.15 million) for the Vc corridor of the motorway, section Nemila-Donja Gracanica (Zenica Nord), which will improve travel links for some 150,000 people in the city of Zenica, the most important center of steel extraction and production in the country.

Dominican Republic: Loan of $ 60 million for the Electricity Grid Extension and Reduction of Technical Losses in Distribution Systems Program. Civil works will include the construction of new substations and distribution networks and the rehabilitation of existing ones in the provinces located in the north and east of the country.

(Reporting by Cleofe Maceda; editing by Mily Chakrabarty)

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