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Dominican Rep. + 6 more

OFID’s Governing Board approves over US$368 million in new funding

Vienna, Austria, January 19, 2018.The 162nd Session of the Governing Board of the OPEC Fund for International Development (OFID) has approved over US$368 million of new development funding to benefit developing countries across the globe.

The public sector loans, which total US$226.1 million, will support the following projects:

Other approvals included five grants totaling US$4.92 million to the following organizations:

Habitat for Humanity. US$420,000. To improve the living conditions of some 13,000 slum-dwellers of Peace Island in Greater Monrovia, Liberia, by carrying out works that will increase access to clean water, sanitation and waste management, as well as awareness raising through hygiene workshops and training. Also planned is a pilot scheme that will offer microfinance loans for housing and interventions to provide households with construction materials.

Palestine. US$1.5 million. This grant, to be channeled through the IsDB and implemented by the Hebron Rehabilitation Committee, aims to improve living conditions of Palestinians in Hebron by rehabilitating 85 residential units belonging to disadvantaged families residing in historic buildings in the Old City. Restoration works will also be carried out at the Ibrahimi Mosque, a UNECSO heritage site. Around 680 people will benefit from the project.

Jordan River Foundation - Madrasati Initiative. US$500,000. To enhance education access for Palestinian children in East Jerusalem. Activities will include renovating and refurbishing six schools (attended by around 1,200 pupils), the purchase of equipment and teaching supplies, and a professional development scheme for teachers focusing on ICT (Information and Communication Technology), as well as a student and community engagement activity component.

United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). US$1.5 million. To enhance the health and living conditions of around 24,000 residents in Shu’fat camp by upgrading storm-water and sewerage networks, which severely flood during the rainy season and cause pollution. OFID also co-funded Phase I of this initiative with a US$1.4 million grant.

World Health Organization (WHO). US$1 million. To support a wide-scale initiative aimed at reducing the burden of Neglected Tropical Diseases (NTDs) in endemic African countries through the control, elimination, and eradication of the five most prevalent and highest-burden NTDs: Onchocerciasis, Schistosomiasis, Trachoma, Lymphatic Filariasis and Soil-transmitted Helminths. Activities will be carried out in Comoros, Cameroon, Central African Republic, Eritrea, Republic of Congo, Democratic Republic of Congo and Somalia.

Under OFID’s private sector facility, two financing facilities were approved, one to help enhance the energy sector in Cameroon (€50 million) and the other to support a financial institution in Sri Lanka (US$10 million) in expanding its lending to micro-, small- and medium-sized enterprises. Under OFID’s trade finance operations, US$65 million was approved to support international trade activities in El Salvador and Panama. A revolving trade finance facility was also approved for the purchase, storage and sale of agricultural commodities in Ghana.