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We have dedicated US$1 billion to fund COVID-19 impact and


recovery efforts in developing countries to be deployed in the


form of OPEC Fund public, private and trade finance loans.


The OPEC Fund, as part of the Arab


The OPEC Fund, as part of


ab Coordination Group (ACG), ), has committed to jointly allocate has committed to jointly allocate US$10 billion to help dev mitiga to help developing countries


mitigate, contain and recover from the destabilizing effects of the COVID19 pandemic.


the destabilizing effects of the CO


19 pandemic. US$10 billion


The OPEC Fund


approved an emergency assistance grant of


US$500,000


to be supplied through the World Health Organization (WHO) in support of COVID-19 efforts in Iran.


US$15 million


OPEC Fund public sector loan to Rwanda will support businesses affected by COVID-19.


US$20 million


Under the OPEC Fund’s private sector operations,


US$30 million


was approved to support small- and medium-sized enterprises (SMEs) in Paraguay via a financial institution, as those SMEs address business interruptions and other challenges related to COVID-19.


will support the government of the Maldives’ Economic Recovery Plan that includes a package of relief measures aimed at mitigating the socio-economic impact of the pandemic, especially in light of the anticipated downturn in tourism.


The OPEC Fund approved US$60 million


under its Private Sector and Trade Finance Facility to support SMEs in Asia and Latin America as they respond to the impact of COVID-19. One of the loans will also strengthen agricultural supply chains – which have been especially hard hit by the pandemic – in African countries.


21


PHO


PHOTO: ETAJOE/Shutterstock.com AJOE/Shutterstock.com


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