DEVELOPMENT NEWS
Connectivity in Costa Rica T he Inter-American Highway links Mexico and Panama and has served as a vital artery within Costa Rica since its construction in 1960. The San Jose-San Ramon Corridor is a key section and links those two cities with one of Central America’s busiest airports. Over the past two decades, Costa Rica’s rapid population growth and surging trade has overwhelmed the road’s capacity. A new €180 million loan from the OPEC Fund will finance the expansion and improvement of more than 55 kilometers of the corridor as well as the construction of a new section that will connect the corridor with a key regional route. The completed corridor will reduce congestion, improve road safety and stimulate economic and social development.
Fertilizing growth in Senegal
T he agriculture sector is a key driver of the Senegalese economy, employing about two-thirds of the population and contributing more than 15 percent to the GDP. Yet the country must rely on imports for the vast majority of its food needs. A new €100 million OPEC Fund loan aims to ease the situation by financing a subsidy program for fertilizers and seeds, including peanuts, maize, sorghum and
watermelon. The OPEC Fund joins other development finance institutions such as BADEA and TDB in this project, which also includes the purchase and processing of 300,000 tonnes of peanuts for sale. The project helps increase production, strengthen food security and raise household incomes in the West African nation. More than 800,000 households are expected to profit, while nearly 10,000 employees, more than 85 percent of whom are women, will also benefit.
Boosting aviation in Rwanda
P ositioning Rwanda as a regional service, tourism and conference hub, national authorities are boosting air transport in the landlocked African country. Yet only one in five pilots in the country are locals. A US$27.95 million financing from the OPEC Fund for the establishment
of a Center for Excellence at the Kigali International Airport will help address the shortage of a skilled workforce – not only pilots, but air traffic control, maintenance and aviation safety. Creating a pool of highly-qualified aviation professionals will also address Rwanda’s high women and youth unemployment.
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