VIENNA, Austria – The OPEC Fund for International Development (the OPEC Fund) has approved US$600 million to advance 15 new development projects across Africa, Asia and the Pacific, Latin America and the Caribbean. The new financing will strengthen social protection systems, economic governance, food security, small businesses, climate-resilient infrastructure and essential services.
OPEC Fund president Abdulhamid Alkhalifa said:
“With these approvals we are ending 2025 with excellent progress and a strong focus on delivering results. By supporting food security, financial inclusion, vital services and resilient infrastructure, we are helping our partner countries respond to today’s challenges while creating sustainable opportunities for generations to come.”
The new approvals include the following public and private sector operations and grants:
Public sector operations
- Barbados: Two US$25 million loans for the Program to Strengthen Social Services II, improving the efficiency and sustainability of key social programs, expanding support for vulnerable groups and advancing digitalisation and disaster-preparedness reforms. The program is expected to reinforce long-term social protection and pension sustainability.
- Benin: A €30 million loan for the Support Program for Economic Governance and Private Sector Development (PAGE-DSP) to improve the business climate, strengthen special economic zones, support agro-industrial development and enhance climate and environmental governance.
- Bhutan: A US$47.3 million loan for the Gamri-II Hydropower Project, a 55 MW run-of-river facility using tailrace discharge from the upstream Gamri-I hydropower plant, which the OPEC Fund is also financing. The project will expand clean electricity supply, strengthen national energy security and support Bhutan’s long-term hydropower development strategy with minimal environmental impact.
- Brazil: A US$60 million loan for the Urban Development Program in the Municipality of Petrolina to upgrade mobility, water supply, drainage, flood control and community infrastructure – creating a safer, more connected and climate-resilient urban environment.
- Burkina Faso: A US$30 million loan for the Human Capital Protection Project – Phase II to broaden access to essential health and education services. Expected results include 17.5 million free healthcare consultations, immunization of more than one million children and improved services for more than 400,000 teachers and students.
- Ghana: A US$20 million loan to Development Bank Ghana to expand access to finance for micro, small and medium-sized enterprises (MSMEs) and agribusinesses, with dedicated support for women-led enterprises and financial inclusion.
- Grenada: A US$60 million (in two-tranches) to co-finance Project Polaris: Grenada Smart Academic Hospital, a modern, climate-resilient national referral facility serving 125,000 people and replacing the existing hospital.
- Mauritania: A US$30 million policy-based loan for the First Reform for Inclusive and Sustainable Growth Program, strengthening investment regulations, tax administration and human capital while expanding access to sustainable energy and improving service delivery.
- Nicaragua: A US$25 million loan for the Masaya–Sabana Grande Interurban Highway Project. The 4.4 km four-lane bypass will ease congestion, improve road safety and reduce travel time between Masaya, a key economic hub and the capital’s metropolitan area, benefiting passengers and facilitating freight movement.
- Niger: A US$20 million loan for the Energy Sector Governance and Competitiveness Support Program – Phase 1 to advance energy sector reforms, expand access to electricity, improve economic governance and promote private sector growth with targeted support to vulnerable groups.
- Philippines: A US$150 million loan for the Reducing Food Insecurity and Undernutrition with Electronic Vouchers (REFUEL) Project to expand access to nutritious food for vulnerable households and strengthen the national social protection system through digitalization and capacity building.
- Solomon Islands: A US$15 million loan for the Second Resilience Development Policy Program, supporting reforms to strengthen fiscal management, enable private sector growth and enhance resilience to climate change, natural disasters and health emergencies.
Private Sector Operations
- Benin: A €27 million loan to expand MSME lending, including a dedicated allocation for women-led enterprises, strengthening financial inclusion and supporting underserved segments of the economy.
- Kosovo: A €15 million loan to expand access to finance for SMEs and women-led businesses. This marks the OPEC Fund’s first private sector engagement in Kosovo.
- Vietnam: A US$25 million loan to improve SME financing and scale up climate-focused lending, strengthening entrepreneurship and green economic development.
Grants
- Latin America and the Caribbean: A US$3 million grant to establish a joint technical assistance facility with the Inter-American Development Bank (IDB), strengthening preparation and implementation of public investment projects and policy-based loans, while reinforcing co-financing opportunities across the region.
