DEVELOPMENT NEWS
The OPEC Fund is financing US$20 million for Liberia to upgrade nearly 50 km of gravel road. 300,000 people will benefit from the project.
Cutting poverty and isolation in Liberia T he Mano River Union, comprising Liberia, Sierra Leone, Guinea and Côte d'Ivoire, is an especially fragile region of Africa with growth held back by poor infrastructure. A new US$20 million loan from the OPEC Fund will upgrade nearly 50 km of gravel road to an all-weather surface. The project, co-financed by the African Development Bank, will improve accessibility for goods from farm to market and for residents to basic services such as healthcare and education. As many as 300,000 people are expected to benefit from the project, more than two-thirds of which live in rural areas.
Photo: Dave Primov/Shutterstock
Supporting economic resilience and social inclusion in Botswana A new US$200 million loan to Botswana will finance the country’s Governance and Economic Resilience Support Program. The project aims to curb illicit financial flows and improve efficiency, transparency and accountability in public spending, as well as create the fiscal space for investments in private sector- led growth. Measures supported by the program will address gender gaps and impact youth, skills employment and unemployment.
Growing Cameroon’s rice industry R ice is a main staple food in Cameroon, yet the production potential is underexploited, contributing to a large gap between supply and demand. By increasing rice production and productivity for smallholder farmers, the Central African country can improve food security. To support the rice industry the OPEC Fund is providing a US$25 million loan to Cameroon to develop 5,000 hectare of paddy field and its irrigation network.
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Photo: Artush/Shutterstock
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