Public Management

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

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

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

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Renaprov Finance plans a BVMAC IPO to raise CFA8.4 billion by offering 44.44% of its capital to the public. The listing would make Renaprov the second...
Egypt’s central bank and Afreximbank signed an MoU to create a pan-African gold bank. The partners will conduct a feasibility study covering technical,...
Burkina Faso plans to launch a certified electronic invoicing system in January 2026. Authorities aim to raise tax revenue, curb VAT fraud, and reduce...
Jiangsu Yunyi Electric will build a wholly owned automotive components plant in Morocco. The project will require an investment of $66 million,...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...

CEMAC Bloc Clears Way for Private Credit Bureau: New Implications for Regional Lending
03

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
04

Nigeria confirms tax reform takes effect Jan. 1, 2026 despite opposition PDP alleges illegal inse...

Nigeria’s Tax Overhaul Set to Take Effect Amid Fury Over ‘Illegal’ Changes
05

Partnership targets priority projects, startup support and skills training Deal aligns with...

Gabon Signs MoU With Huawei on Digital Economy Push
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.