OPEC fund finances development projects in five African countries
23 June 2011
The board of directors of the OPEC Fund for international development (OFID) announced last Sunday that it will provide a package of 56 million dollars in the form of loans and six million in the form of grants to five African countries.
These funds will finance some fifteen development projects in Burundi, Cameroon, Gambia, Kenya and Mozambique.
"The financing is being allocated to the sectors of energy, transport, agriculture, health and finance", stated the OFID in a release reported by the APA press agency.
Fifteen million dollars will in particular be used in Kenya for a rural electrification project, targeting 591 agro-alimentary projects, health centers and educational establishments.
Ten million dollars will be allocated to a project to develop the electricity network in Cameroon in the disadvantaged areas in the municipality of Kanifing, with 10,000 new homes being connected.