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OFID AT THE WORLD BANK MEETINGS


US$81m to boost development in four African countries


The agreements were signed by OFID


Director-General Dr Abdulhamid Alkhalifa and ministers from the beneficiary countries.


By Anna Ilaria-Mayrhofer PHOTOS: OFID/Agnes Müller and Irena Nikolov 42


On the sidelines of April’s World Bank Spring meetings in Washington, DC, OFID signed public sector loan agreements totaling US$81 million to help boost socio-economic development in four African countries. Also signed was an agreement with Suriname, which sets the framework for commencing private sector operations in the country. The loans are being co-financed with the respective governments of the beneficiary countries and OFID sister institutions including the Arab Bank for Economic Development in Africa, the Kuwait Fund for Arab Economic Development, the Saudi Fund for Development as well as the African Development Bank, the International Fund for Agricultural Development and the World Bank. The agreements were signed by OFID Director-General Dr Abdulhamid Alkhalifa and ministers from the beneficiary countries. The loans will support the following projects/programs: In Burkina Faso, US$19 million will help upgrade the 94 km-long Tougan Ouahigouya Road with the


view to promote trade, improve links between production zones and the capital Ouagadougou, and enhance access to social services for around 250,000 people. A US$22 million loan to Ethiopia will co-fund upgrading of the 68 km-long Dilla-Bulle-Haro Wachu Road to enhance economic development in a region where agriculture is a primary source of income. At least 730,000 people are expected to benefit. Guinea received US$25 million


for the Family Farming, Resilience and Markets in Upper and Middle Guinea Program to help alleviate poverty and enhance food security by upgrading infrastructure that will assist farmers in adopting more efficient technologies, benefiting around 455,000 people. A US$15 million loan to Malawi will support the Shire Valley Transformation Program which will boost access to irrigation and drainage services, help secure land tenure, and strengthen wetlands management to increase agricultural productivity and commercialization for about 56,000 smallholder families.


US$81m


OFID signed public sector loan agreements totaling


OFID's delegation met with senior representatives of the World Bank Group and development institutions and held bilateral meetings with partner institutions including other DFIs, commercial banks and financial advisory firms.


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