NEW DEVELOPMENT FUNDING
Pakistan US$72 million
The Mohmand Dam Multipurpose Project will finance the construction of a hydropower dam and provision of equipment. The dam will have a 1.6 million m3
reservoir and diversion
tunnels that will feed into new and existing irrigation canals. Once completed, the Mohmand Dam will increase the country’s installed capacity by 800 MW from a renewable source and provide sustainable potable water to two million residents in Peshawar. The project will also enhance food security through higher crop yields on 14,483 hectares of farmland, while improving the region’s resilience to floods.
Zimbabwe US$15 million
The Smallholder Agriculture Cluster Project aims to increase household incomes, and improve the food security and nutrition of more than 390,000 people in five provinces of the country through value chain development and provision of infrastructure. The loan will finance the construction of small-scale, climate-resilient irrigation schemes, the repair of 90 km of feeder roads and the installation of water supply and sanitation facilities.
GRANTS APPROVED Uzbekistan US$100 million
The Accelerating Uzbekistan’s Transition Program will support the country’s transition to a market economy by improving resource allocation and enabling private sector investment. The program will promote competitiveness as a driver of successful markets, improve the management of state-owned enterprises, enhance fiscal transparency and accountability, and increase economic and social inclusion, particularly for women and people with disabilities.
Three grants totaling US$6 million were approved for joint OPEC Fund technical cooperation facilities with the three co-financing partners Asian Development Bank (US$3 million), Development Bank of Latin America (US$1 million) and the European Bank for Reconstruction and Development (US$2 million). The grants will primarily be used to finance project
preparation activities such as feasibility studies and building of a pipeline of bankable sovereign and non-sovereign operations. Potential sectors include agriculture, energy, transportation, water and sanitation, and manufacturing and services.
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PHOTO: Kadagan/
Shutterstock.com
PHOTO: Tariq siddiq kohistani/
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