Kuwait- OFID offers soft loans worth USD60mln. to 9 partners

(MENAFN- Kuwait News Agency (KUNA)) VIENNA Feb 22 (KUNA) -- The OPEC Fund for International Development (OFID) signed on Monday loan and grant agreements totaling over USD 60 million to help boost socio-economic development in nine partner countries.The agreements were signed by OFID Director-General Suleiman J. Al-Herbish and representatives of the beneficiary countries including Amara M. Konneh - Minister Ministry of Finance and Development Planning of Liberia and Mubin Mirzaev Deputy Minister of Finance of Uzbekistan.An agreement with Belize provides that OFID will channel USD 11.78 million to the Airport Link Road Project which aims to build a carriageway bridge and roundabouts and upgrade airport access roads to decrease traffic congestion in Belize City and improve connectivity thus providing an easier cheaper and safer means of transport.OFID will also contribute USD 11.50 million to a project in Cote d'Ivoire to expand Girls' Access to Secondary Education raise enrolment and retention rates through the constructing and equipping of six secondary schools and build hostels to accommodate around 9000 schoolgirls.In Kenya OFID will pump USD five million into the Rongai Hospital project which aims to construct and equip a new hospital and residential staff building in Rongai city. On completion the project will improve the quality and accessibility of affordable healthcare services for some 150000 people.In Liberia OFID pledged USD 20 million to the upgrading of Gbarnga- Salayea Road project.The agreement with Uzbekistan provides that OFID will provide USD 11 million to the project to improve potable water network in rural areas of Koshrabad District Samarkand Region; the project will benefit approximately 68000 people in these areas.The documents also include a USD 860000-worth grant for ECOWAS Regional Center for Renewable Energy and Energy Efficiency (ECREEE) to provide communities businesses small enterprises and public buildings with access to modern energy services.By virtue of the deal the ECREEE will implement mini-grid schemes in Benin Cape Verde Senegal and Sierra Leone. Over 4200 people are expected to directly benefit from the project. Co-signing the agreement was Director-General of ECREEE Mahama Kapiah.Since its foundation in 1976 OFID has offered a total of USD 19 billion in soft loans and grants to 134 developing and least developing countries. (end) amg.gb