SPECIAL FEATURE
DINA SALEH: IFAD AND THE OPEC FUND
“IFAD’s partnership with the OPEC Fund is one of our most valuable and is crucial for our work responding to crises in the region. Since its establishment, the OPEC Fund has co-financed more than 120 projects with IFAD for a total amount of about US$1.03 billion. Overall, the IFAD-OPEC Fund partnership has been highly successful. I would like to highlight two examples. “Last year saw the closure of the Infrastructure and Rural Finance Support Program (IRFSP) project, which owed much of its success
to a US$25 million contribution from the OPEC Fund. IRFSP was designed to generate income growth and sustainable employment opportunities by strengthening agricultural production systems and linkages to value chains for cash crops through rural finance, investments in water infrastructure, awareness-raising and capacity building and supporting them in program management. The project supported over 200,000 households, including 90,000 rural women.”
IFAD and the government of Somalia are finalizing designs to unlock US$41.9 MN of donor co-financing
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