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OPEC FUND COVID-19 FAST-TRACK APPROVALS:


US$235m


At the 173rd Session of the OPEC Fund’s Governing Board (held virtually), US$100 million in fresh funding was approved to help boost socio-economic development and improve living conditions in developing countries across the world.


The OPEC Fund also approved an additional US$175 million of public finance in response to COVID-19 via a fast-track process. Under the OPEC Fund’s Private Sector and Trade Finance Facility, US$60 million was approved to support SMEs in Asia and Latin America. One loan will also strengthen agricultural supply chains in African countries.


The distribution of funds is illustrated on the map overleaf.


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PHOTO: OPEC Fund/Luis Aguilar


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