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OFID Ministerial Council and Governing Board meetings in Seefeld, Austria |
The
Governing Board of the OPEC Fund for
International Development (OFID) announced on Monday the approval of a $12
million loan for the Gambia to boost NAWEC’s electricity supply.
The
money meant to be invested in the Kotu Power Station is expected to provide the
population, particularly unconnected communities, with an affordable and
consistent supply of electrical power, OFID said on June 18.
The
announcement came in the wake of increased electricity tariff in the Gambia and
amid growing inconsistency in the supply of electricity within the Greater
Banjul Area.
OFID
said “At least 500,000 people will benefit from the upgraded power station”
which is being managed by the National Water and Electricity Company.
The
new loan secured by the Gambia
Government is one of 13 loans and grants totaling nearly US$66 million
meant to boost socio-economic development in over 34 partner countries.
The
loans, which will cover the agriculture, education, energy, transportation and
water supply sectors of the beneficiary countries, were issued at the end of
OFID’s 139th Session in Vienna, Austria.
The
Fund, managed by the Organisation of Petroleum Exporting Countries (OPEC), also
approves a $5 million loan for DR Congo
for the “Development of Rice Cultivation in Masina.” The project is intended to
help reduce poverty and boost food security through the expansion of an
irrigation network and construction of agricultural infrastructure.
Around
10 million inhabitants residing near the capital Kinshasa will benefit from the
project.
A
$7 million loan for the Republic of
Guinea for a “Five Towns Water Supply” is intended to help alleviate
poverty and improve living conditions for some 63,000 people through the
construction of water supply infrastructure and installation of household
connections.
Another
loan of $11.93 million for Mauritania’s “Aftout
Al Chargui Solar Electrification Development” was also approved. The
project is meant to supply around 100,000 inhabitants living in extremely
impoverished areas with a safe and affordable supply of energy.
The
“Masaka-Bukakara Road” project in Uganda
also received $15 million loan from OFID. The project will upgrade the 40.6
km-long stretch, one of the primary means of mainland travel in the Kalangala
District. On completion, OFID said it will enhance socio-economic development
from the facilitated access to marketplaces and social infrastructure.
In
Zambia, the Fund approves $10
million for “Three Technical Colleges.” The government of that country said it
will provide higher education opportunities in three provinces, populated
by some 850,000 people, where no universities exist.
“The
colleges will be located in manufacturing and industrial centers, thus helping
ensure the employability of the graduates,” the OPEC Fund confirms.
Grants
Meanwhile,
seven grants totaling almost US$5 million were also approved at the meeting.
“One
will support a joint programme with UNAIDS to scale up HIV/AIDS activities in
19 countries in Latin America and the Middle East and North Africa region,
while another will co-finance Phase VI of a project that will provide assistance
to 11 NGOs in Palestine,” OFID explained. “The Welfare Association will receive
a grant in support of a youth employment scheme in the West Bank and Gaza
Strip.”
Additionally,
a food security program of the International Center for Agricultural Research in
the Dry Areas will receive funding to help around 10,000 people living in rural
communities in Nepal and Bangladesh.
In
line with OFID’s energy poverty alleviation activities, almost 800,000 people
will benefit from three grants that will co-fund projects: of the Shell
Foundation, which will provide solar lighting and safe cooking stoves for
households in Ethiopia, Honduras, Kenya, Malawi, Tanzania, Uganda and Zambia;
of Practical Action, to enhance energy access in under-served villages in
Malawi; and, of the Global Village Energy Partnership, which will provide
hydropower to communities in Nyundo, Rwanda.
OFID
said from inception, it has committed over US$14.1 billion in much-needed
concessional development financing to 132 developing countries around the
world, with priority given to the poorest amongst them.
Written by Modou S. Joof
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