DEVELOPMENT NEWS
New financing for rural businesses in Bosnia and Herzegovina T he OPEC Fund and the European Bank for Reconstruction and Development (EBRD) are joining forces to provide € 12.5 million each to Rai ff eisen Bank Bosnia and Herzegovina for on-lending to micro, small and medium-sized enterprises, especially to women-led companies that are supporting food security. More than half of Bosnia and Herzegovina’s population of nearly 4 million live in rural areas. The country has more than 500,000 smallholder farms and about a third of the population is engaged in agriculture, making the sector key for the overall economy and food security.
Reducing poverty and improving climate resilience in the Seychelles
OPEC Fund providing US$20 million loan
A US$20 million OPEC Fund policy-based loan to the Republic of Seychelles will enable a number of di ff erent policy reforms that will reduce poverty and improve climate resilience. These series of reforms help the country build back better in the wake of the
Supporting agriculture and green energy trade in Bangladesh A US$30 million OPEC Fund loan to City Bank of Bangladesh will support international trade by providing financing to import and export companies, especially in agriculture and green energy. The loan will also facilitate the flow of goods at a time of supply chain disruptions. COVID-19 pandemic and promote long- term, inclusive and sustainable growth. The program aims to contribute to a number of Sustainable Development Goals including ones devoted to climate action, marine sustainability and promoting accountable and inclusive institutions.
A € 38.03 million OPEC Fund sovereign loan will fund infrastructure and urban development in six cities in the northern region of the country. More than 200,000 people, especially women and youth, are expected to benefit. Modernizing urban infrastructure in Senegal
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