2
OPEC Fund financing commitments have thus far benefit- ed 114 countries around the world. About half of total OPEC Fund commitments were in favor of African countries, fol- lowed by Asia (31 percent) and Latin America and the Caribbean (15 percent) (Figure 6) . Support to Africa is driv- en by SO commitments, whereas the largest share of private sector non-trade commitments have been to clients in Asian countries (Figure 7).
2020-21
to governments constituted a substantial part of the public sector (SO) portfolio under the pandemic re- sponse package (around 39 percent of committed funds). These loans were used to finance additional public healthcare expenditures and protect socially vul- nerable groups facing sharp economic downturns. Pol- icy-based lending, amounting to 41 percent of commit- ted COVID-19 funds, was used to support reforms and regulatory initiatives to promote economic recovery as well as social and financial inclusion. Trade loans were largely used to support essential imports, while the pri- vate sector was supported by channeling liquidity to businesses through financial institutions.
Figures 6 and 7: Total commitments (1976-2022) by region & client type
Europe
4
LAC
15
%
50
Asia
Africa
31
Figure 5. COVID-19 commitments by instrument type
US$MN
US$MN
8,000
300
7,000
200
6,000
100
5,000
4,000
0
SO Project Lending
Budgetary Support Loans
Policy Based Loans
SO Trade Loans
Private Sector Lending
NSO Trade Loans
3,000
2,000
SO
NSO
1,000
0
SO
NSO
SO-Trade
NSO-Trade
Africa
Asia
LAC
Europe
Note: These graphs exclude operations targeting more than one region.
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