DEVELOPMENT NEWS
Developing livestock in Sierra Leone A n OPEC Fund US$30 million loan and US$2 million grant will support Sierra Leone’s new Livestock and Livelihoods Development Program. It aims to improve food security, strengthen rural livelihoods and expand climate-resilient agriculture across eight national districts, benefiting more than 370,000 people. Co-financed with the International Fund for Agricultural Development (IFAD), the Islamic Development Bank (IsDB) and the Government of Sierra Leone, the US$107.5 million program will also deliver clean cooking solutions to reduce deforestation and health risks. Empowering small and medium-sized enterprises in Kosovo A n OPEC Fund €15 million loan to Raiffeisen Bank Kosovo (RBKO), the country’s largest bank, will strengthen access to finance for SMEs in the Western Balkan country. The OPEC Fund’s first private sector loan in Kosovo will enable RBKO to extend longer-tenor loans to local companies, supporting investment, business expansion and job creation. The operation will also help address persistent credit gaps for small businesses, including women-owned enterprises, while marking the OPEC Fund’s first private sector loan in the country.
Enriching economic competitiveness in Niger
U S$20 million in OPEC Fund financing will support energy sector reforms, promote private sector development and improve economic governance transparency in Niger in West Africa. Co-financed alongside the African Development Bank (AfDB), the program expands access to electricity, especially in rural areas, while supporting youth entrepreneurship and private sector growth through industrial zone development and financial reforms, helping to create jobs and reduce poverty. Gender equality and support for vulnerable populations, including internally displaced
persons, are part of the program’s policy reforms, ensuring that social programs are better targeted and more impactful.
The program expands access to electricity in rural areas and supports youth entrepreneurship and private sector growth.
Upgrading clean energy development and energy security in Egypt
T he OPEC Fund is providing a US$37 million loan to Egypt’s Abydos II solar photovoltaic project, one of the country’s largest clean energy projects to date and recently awarded the “Africa Deal of the Year” 2025 PFI Award. Located in the Aswan Governorate in Upper Egypt, the facility comprises a 1,000 MW solar photovoltaic plant integrated with a 600 MWh battery energy storage system and will supply more than 3 million MWh of clean electricity to the national grid. The OPEC Fund is a parallel lender in a US$571.8 million financing package, arranged by IFC, the World Bank's private sector arm.
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