OPEC Fund approves over US$1 billion to strengthen infrastructure, social services, clean energy and sustainable livelihoods across Africa, Asia and Latin America
The newly approved operations will support transformative projects across Africa, Asia, Latin America and the Caribbean, spanning key development priorities such as health, education, clean energy, water and sanitation, sustainable livelihoods and resilient infrastructure.
OPEC Fund President Abdulhamid Alkhalifa said: “These approvals reflect our commitment to addressing urgent development needs while unlocking long-term opportunities. From roads and railways that connect communities and markets to investments in water, health and education that improve lives, we are helping partner countries build resilience, promote inclusive growth and accelerate climate action.”
The financing includes both public and private sector operations as well as trade finance initiatives.
Public Sector Operations:
El Salvador (*): A US$70 million loan to co-finance Surf City Program – Phase II with the Central American Bank for Economic Integration (CABEI). The project will upgrade key road infrastructure, expand sanitation for some 70,000 people and improve climate resilience in the La Libertad coastal zone, the country’s main tourism draw.
Eswatini: A US$50 million policy-based loan to support fiscal and competitiveness reforms with the World Bank and the African Development Bank. The program targets structural improvements to boost private sector growth and climate resilience.
Fiji: A US$30 million loan for the “Pacific Healthy Islands Transformation Project” a regional initiative to modernize health systems across Pacific Small Island Developing States (SIDS) with a focus on digital health integration, training capacity and resilient service delivery.
Kyrgyz Republic: A US$30 million policy-based loan to co-finance the “First Sustainable and Inclusive Growth Development Program,” promoting energy reforms, improved social services and a more competitive business environment.
Lesotho (*): A US$40 million loan for the “Integrated Transport, Trade and Logistics Project,” improving roads, bridges and airport facilities to boost regional trade and aviation safety.
Malawi: A US$27 million loan for the “Jenda Water Supply and Sanitation Project,” expanding access to clean water, improving waste management and enhancing health outcomes in a key agricultural hub.
Morocco: A €100 million policy-based loan for the second phase of the Economic Governance and Climate Change Resilience Support Program, supporting reforms in the water and energy sectors, alongside the African Development Bank, and driving sector-led growth and climate action.
Papua New Guinea:(*) A US$50 million loan to improve early education under the “Learning Enhancement and Access Project,” alongside the World Bank, benefiting 375,000 students and 9,000 teachers across 3,500 schools.
Saint Lucia: A US$20 million loan for upgrades to the Sir Julian R. Hunte Highway, enhancing road safety and connectivity for nearly 95,000 people.
South Africa: A US$150 million policy-based loan to support “Infrastructure Modernization.” Co--financed with the World Bank, African Development Bank, Germany’s development bank KfW and the Japan International Cooperation Agency, the program advances reforms in transport and energy, supporting a just transition to a low-carbon economy.
Türkiye: A €150 million loan for the “Kars-Iğdır-Aralık-Dilucu (KIAD) Railway Project,” which will construct a 224 km electrified rail link along the strategic Trans-Caspian Corridor to improve Eurasian trade routes.
Uganda:(*): A US$30 million loan to co-finance “Phase II of the Local Economic Growth Support Project” alongside the Islamic Development Bank, supporting agriculture, rural infrastructure and financial inclusion for smallholder farmers, benefitting some 3.5 million people directly.
Private Sector Operations:
Bangladesh: A US$30 million loan to a private bank to expand trade finance for Micro Small and Medium-sized Enterprises (MSMEs) and agribusinesses.
Côte d’Ivoire: A €40 million term loan to support construction of a 372 MW power plant, helping nearly double the country’s installed capacity by 2030.
Egypt (*): A US$40 million loan for a 1,000 MW solar power plant and 600 MWh battery storage system in Aswan. Co-financed with international partners the plant is expected to be one of the largest solar-plus-storage facilities in Africa.
Jordan: A US$25 million subordinated loan to support MSME lending and climate finance in partnership with a local bank.
Oman (*): A US$50 million loan to develop an industrial facility that will manufacture inputs for renewable energy technologies, supporting global clean energy supply chains and Oman’s economic diversification agenda.
Paraguay: A US$25 million A-loan as part of an OPEC Fund-led (up to US$50 million) syndicated facility to support SME growth, with a focus on women-led enterprises n and agricultural development.
Trade Finance: Regional Africa (*): A US$75 million loan to support coca trade finance in Côte d’Ivoire and Ghana, improving market access and promoting sustainable agricultural value chains through traceable sourcing and bettert livelihoods for farmers.
The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$30 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and S&P Global Ratings. Our vision is a world where sustainable development is a reality for all.
