The OPEC Fund for International Development has approved more than $600 million in new development financing to support infrastructure, private sector growth, food security, and human capital development in countries across Africa, Asia, Latin America, and the Caribbean. These new commitments were finalized during the fund’s 191st Governing Board meeting held in Vienna and throughout the first quarter of 2025.
The approved projects highlight the OPEC Fund’s strategic push for inclusive and resilient growth in line with its development goals. The Fund’s President stated that these investments demonstrate a strong commitment to building resilience and fostering practical development solutions in areas that matter most—such as transport, vocational skills, and small business financing.
In the public sector, Costa Rica will benefit from a €180 million loan for the expansion and improvement of the San Jose–San Ramon Road Corridor. This project, co-financed with the Central American Bank for Economic Integration, aims to improve road safety and boost trade along a key section of the Inter-American Highway.
In Asia, Nepal will receive a $100 million loan for a power infrastructure upgrade. The project, in partnership with the Asian Development Bank, will strengthen Nepal’s electricity transmission and distribution network and support regional power trade through the South-Asia Subregional Economic Cooperation program.
Rwanda is set to benefit from a $27.95 million loan to enhance its aviation training capacity under the “Center of Excellence in Aviation Skills Project,” co-financed with the African Development Bank. The project will raise national standards and help position Rwanda as a regional aviation hub.
Senegal will receive €25 million for the second phase of the “Water Valorization for Value Chains Development Project.” This initiative, in partnership with AfDB and others, aims to boost sustainable agricultural output and climate resilience, targeting improved incomes and jobs for an estimated 57,000 households.
Tanzania secured $75 million as the first half of a $150 million facility to support the Uvinza–Malagarasi section of the Standard Gauge Railway Project. The railway, which links Tanzania with Burundi and the Democratic Republic of Congo, is expected to enhance regional trade and connectivity.
In the private sector, Côte d’Ivoire will receive a €30 million loan to improve access to finance for small and medium-sized enterprises. The funding is expected to support entrepreneurship, create jobs, and drive economic expansion.
In the Democratic Republic of Congo, $20 million has been approved to support lending to critical economic sectors as part of a larger development package.
Nicaragua has been allocated $20 million to boost financial inclusion and increase access to credit for agricultural businesses.
In a regional move, the OPEC Fund is also participating with $40 million in a $240 million trade finance facility to support agricultural trade across several African nations, aiming to strengthen food systems and market access throughout the continent.
This round of financing reinforces the OPEC Fund’s ongoing commitment to sustainable development and its strategy to foster economic inclusion, support resilient infrastructure, and catalyze regional cooperation in emerging economies.
