DEVELOPMENT NEWS
Stimulating the cocoa supply chain in Côte d’Ivoire
T he OPEC Fund is providing €80 million in financing to support an IFC-led cocoa pre- export finance facility for Sucden Côte d’Ivoire. The financing will cover the whole supply chain from sourcing of the cocoa beans to the final payments of the receivables by the end buyers. Sucden is an independent market leader in soft commodities and trading worldwide, combining global know-how with local expertise.
Accelerating transportation in Nicaragua A US$25 million loan will finance the construction of a 4.4 km four-lane urban roadway to improve connectivity in the Managua Metropolitan District. The project links the Masaya Highway with the Las Jagüitas intersection, directly benefiting more than 96,000 residents and indirectly improving mobility for over 1.5 million people. The roadway
will reduce travel times, lower transport costs and facilitate better access to healthcare, education and employment. The new corridor will also support agricultural livelihoods by easing market access, while strengthening social inclusion through safer infrastructure, dedicated pedestrian and cycling facilities, as well as improved emergency response accessibility.
The road will directly benefit more than 96,000 residents and improve mobility for 1.5 million people.
Financing the Middle East’s largest polysilicon plant in Oman A longside partners like IFC, the OPEC Fund is financing the construction of the Middle East’s largest polysilicon facility. Located in Oman and built by the solar manufacturer United Solar, the plant will support the production of up to 40 GW of solar modules annually. The OPEC Fund’s US$50 million loan will help create nearly 3,000 jobs. The financing reflects the OPEC Fund’s commitment to supporting low-carbon industrial growth and to strengthening renewable energy value chains. The project advances Oman’s economic diversification, while strengthening local manufacturing capacity and job creation. Once complete, the US$1.6 billion plant will be the Middle East’s largest polysilicon manufacturing facility with a planned annual production capacity of 100,000 tonnes.
Photo: PixieMe/ Shutterstock
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