Public Management

OPEC provides $81 mln to fund projects in 4 African countries

Wednesday, 24 April 2019 14:50
OPEC provides $81 mln to fund projects in 4 African countries

(Ecofin Agency) - The Organization of the Petroleum Exporting Countries (OPEC) will provide $81 million support to four African countries, the Emirates News Agency revealed this week.

The new support will be provided to Burkina Faso, Ethiopia, Guinea and Malawi via the OPEC Fund for International Development (OFID). It will help develop the infrastructure and agriculture sectors as well as support poverty reduction activities.

The first tranche of $19 million will be provided to Burkina Faso for the renovation of 94-km Tougan-Ouahigouya road, thus improving the connection between production zones and the capital city Ouagadougou. It will also facilitate access to basic services for up to 250,000 residents.  

Ethiopia will receive a second tranche of $22 million to renovate its 68-km Dilla-Bulle-Haro Wachu road. The project should provide better access to basic services for 730,000 people.

With more than $25 million, Guinea will implement its programme aimed at improving the contribution of family farming to inclusive development,  "Agriculture familiale, résilience et marchés en Haute et Moyenne Guinée". By improving infrastructures, the project should benefit close to 455,000 people.

The last tranche of this financing ($15 million) will go to Malawi in the framework of its Shire Valley transformation project. In the long term, the project is aimed at increasing agricultural productivity and the trade capacity of about 56,000 families of small farmers.

Moutiou Adjibi Nourou

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