THE OPEC FUND FOR INTERNATIONAL DEVELOPMENT
Annual Report 2020
REGION: Africa BORROWER: Africa Finance Corporation (AFC) OPEC FUND FINANCING: $50m (Private Sector)
OBJECTIVES: To help finance and build infrastructure needed for Africa’s post-COVID-19 recovery. The proceeds of the 10-year loan to AFC will help address the continent’s infrastructure financing gap. The loan will also support increased finan- cial flows to Africa and contribute to COVID-19 recovery
efforts in African economies by freeing up government funds to meet urgent financing needs related to the pan- demic.
COUNTRY: Burkina Faso PROJECT: Dori and Fada N’Gourma Universities Expansion OPEC FUND FINANCING: $23m (Public Sector) CO-FINANCIERS*: BADEA TOTAL PROJECT COST: $44.75m
OBJECTIVES: To meet the country’s growing need for a qualified workforce and provide a better academic environment. Planned works include: – Building a new campus at the University of Dori, including dormitories and other ancillary facilities, as well as a Science and Technology Training and Academic Research Unit – Expansion of the University of Fada N’Gourma campus through the construction of two dormitory blocks with a 1,000-student capacity – Provision of all furnishings, teaching and learning equipment for both universities
* in addition to recipient country government and beneficiaries
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