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IN THE FIELD


The OPEC Fund works in cooperation with developing country partners and the international donor community to stimulate economic growth and alleviate poverty in underserved regions. It does this by providing financing to build essential infrastructure, strengthen social services and promote productivity, competitiveness and trade. The following pages showcase some of our recent work in the field.


& Roadsrenewables: The OPEC Fund and Nicaragua


Nicaragua, the largest country in Central America, is well known for its biodiversity and natural beauty. Decent economic growth rates over the past years and progress on reducing poverty have slowed more recently, and further socioeconomic progress is proving challenging. The OPEC Fund is working with the Nicaraguan government to reignite the momentum. Silvia Mateyka reports...


The OPEC Fund's Luis Aguilar with Nicaragua's Minister of Finance Ivan Acosta Montalvan.


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he OPEC Fund’s relationship with Nicaragua began in 1979. Since then, the institution has worked closely with the government to co- finance projects in priority sectors


and to help reduce poverty and enhance economic growth. “Although there has been good progress and results from our co-financed projects in the country, there is still a lot that needs to be done,” says Luis Aguilar, the OPEC Fund’s Country Officer.


As the long relationship suggests, the OPEC


Fund is committed to supporting sustainable development in Nicaragua. Aguilar explains


that the immediate focus is on improving basic infrastructure to reduce poverty and promote socioeconomic development. During a recent mission to Nicaragua in


January 2020, Aguilar met with government officials and members of the local community to review and discuss the progress of development projects. He visited the Caribbean Coast Rural Electrification and the Rural Roads Development project sites – two key development operations co-funded by the OPEC Fund – that will reduce poverty by providing rural communities with modern and sustainable energy services and better roads to access essential services.


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