The OPEC Fund approved $576.5 million in loans for nine African nations to finance reforms, infrastructure, energy, and agricultural value chains.

South Africa, Morocco and Côte d’Ivoire received the largest allocations, including $150 million for infrastructure and $117.5 million for climate resilience.

Ghana and Côte d’Ivoire jointly secured $75 million to support cocoa exports and strengthen sustainable agriculture.

The OPEC Fund for International Development said it approved $576.5 million in loans for nine African countries to support economic reforms and development projects. The announcement came after the fund’s 193rd board meeting on September 17, where it cleared more than $1 billion in global financing for Africa, Asia, Latin America and the Caribbean.

The African loans will finance projects in energy, water, transport, agriculture and governance. They will target both government-led reforms and private sector investments.

Eswatini will receive $50 million to back fiscal reforms and competitiveness programs in partnership with the World Bank and African Development Bank. Lesotho will access $40 million for an integrated transport, trade and logistics project to upgrade roads, bridges and airport facilities. Malawi will obtain $27 million for clean water supply and sanitation.

Morocco will secure $117.5 million for the second phase of its economic governance and climate resilience program, while South Africa will receive $150 million for infrastructure modernization. Uganda will get $30 million for the second phase of its local economic growth program.

In Côte d’Ivoire, the fund approved $47 million for a 372 MW power plant, while in Egypt it will provide $40 million for a 1,000 MW solar project with 600 MWh battery storage.

Ghana and Côte d’Ivoire will jointly receive $75 million to strengthen cocoa exports, promote sustainable agricultural value chains and improve farmers’ livelihoods.

Created in 1976 by OPEC member states, the OPEC Fund finances projects in low- and middle-income countries outside the organization. It focuses on economic growth and social progress through investments in food, energy, infrastructure, jobs, water and sanitation, health and education.

This article was initially published in French by Walid Kéfi

Adapted in English by Ange Jason Quenum