THE OPEC FUND FOR INTERNATIONAL DEVELOPMENT
Annual Report 2020
COUNTRY: Malawi PROJECT: Transforming Agriculture through Diversification and Entrepreneurship - TRADE OPEC FUND FINANCING: $20m (Public Sector) CO-FINANCIERS*: IFAD TOTAL PROJECT COST: $125.4m
OBJECTIVES: To support various actors along the value chain and build the capacity of smallholder farmers and rural organizations.
– Around 1.3 million beneficiaries – 1,000km feeder roads rehabilitated
– 68 warehouses built – 10 livestock markets – 15 honey storage centers and 16 milk collection centers provided – 30 community boreholes installed
COUNTRY: Rwanda PROJECT: Rwanda COVID-19 Economic Recovery Fund Emergency Loan OPEC FUND FINANCING: $15m (Public Sector) CO-FINANCIER: Government of Rwanda TOTAL PROJECT COST: $124.4m
OBJECTIVES: To support businesses in the sectors most affected by COVID-19 and help safeguard development gains through the establishment of two facilities. The first facility will enable the restructuring of existing bank loans to the tourism sector through the National Bank of Rwanda. The second will provide lines of credit to large corporates, SMEs, MSMEs, and savings and credit cooperatives. It will also support a Business Development Fund for vulnerable people engaged in informal work.
* in addition to recipient country government and beneficiaries
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