OPEC Fund Commits Over US$600 Million to Boost Infrastructure, Human Capital, and Economic Resilience in Developing Regions

The Organization of the Petroleum Exporting Countries (OPEC) Fund has approved more than US$600 million in new development financing to advance sustainable infrastructure, private sector growth, food security, and human capital development across partner countries in Africa, Asia, Latin America, and the Caribbean.

The financing was approved at the OPEC Fund’s 191st Governing Board meeting in Vienna and throughout the first quarter of 2025. These investments reflect the Fund’s strategic focus on fostering inclusive, resilient, and sustainable development.

“These engagements are a significant demonstration of our commitment to building resilience and enabling inclusive development. From transport corridors to vocational training and financing small businesses the OPEC Fund is supporting practical solutions that align with our partners’ priorities and deliver tangible results. We remain focused on driving sustainable development across regions and sectors,” said OPEC Fund President Abdulhamid Alkhalifa.

Highlights of Approved Projects:

Public Sector Initiatives

Costa Rica: A €180 million loan will co-finance the expansion and improvement of the San Jose–San Ramon Road Corridor alongside the Central American Bank for Economic Integration (CABEI), aiming to improve traffic flow, road safety, and regional trade.

Nepal: A US$100 million loan will support the SASEC Electricity Transmission and Distribution Strengthening Project, co-financed with the Asian Development Bank (ADB), enhancing electricity reliability and cross-border power trade.

Rwanda: A US$27.95 million loan will co-finance the Center of Excellence in Aviation Skills Project with the African Development Bank (AfDB), helping Rwanda elevate its aviation training capacity to international standards and positioning it as a regional aviation hub.

Senegal: A €25 million loan will back the second phase of the Water Valorization for Value Chains Development Project (PROVALE – CV2), fostering climate-resilient agriculture, job creation, and improved livelihoods for 57,000 households.

Tanzania: A US$75 million loan—the first tranche of a US$150 million package—will help develop the Uvinza–Malagarasi section of the Standard Gauge Railway, in partnership with AfDB and others, boosting regional connectivity and trade.

Private Sector Support

Côte d’Ivoire: A €30 million loan will improve access to finance for SMEs, fostering entrepreneurship and job creation.

Democratic Republic of the Congo: A US$20 million loan, part of a broader development financing effort, will support critical sectors through on-lending.

Nicaragua: A US$20 million loan will expand credit access for agricultural businesses, supporting financial inclusion and rural development.

Africa (Regional): A US$40 million contribution to a US$240 million trade finance facility will enable the import and export of agricultural commodities across several African countries.