January 12

Africa: Water, Renewable Energy, Agriculture… a $500 Million Package From OFID

By Jean Marie Takouleu

The Opec Fund for International Development (OFID) has approved loans totalling $500 million for several countries around the world, including a large part in Africa. The funds will be used to develop renewable energy, provide access to water and improve food security in the face of external constraints.

The most recent meeting of the Board of Directors of the Opec Fund for International Development (OFID) ended with a series of financing approvals to support the development of various sectors of activity in several countries. This involves 500 million dollars intended in particular for the financing of renewable energies. Niger, which is one of the least electrified countries on the African continent with an electricity access rate of 20%, has thus obtained a loan of 24 million dollars.

Photo courtesy of Lukas Bato.

Source: Afrik21 (link opens in a new window)

food security, renewable energy, water