Enhancing Rwanda’s water supply An expanded water plant will serve the capital city and surrounding areas
T he OPEC Fund is supporting sustainable water supply in Rwanda with a new US$21 million loan. The expansion of the Karenge Water Supply System Project
Supporting small enterprises in Albania
will benefit the population of Rwanda’s capital Kigali and surrounding areas in the Rwamagana District.
Special focus on women-led businesses and companies supporting food security or green energy projects
The OPEC Fund loan complements a US$143.3 million financing package provided together with the Abu Dhabi Fund for Development (AFDF), the Saudi Fund for Development (SFD), the Arab Bank for Economic Development in Africa (BADEA) and the Export-Import Bank of Hungary. The centerpiece of the project is the expansion of the Karenge water treatment plant on the shores of Lake Mugesera, about 50 km southeast of Kigali. The enlargement of the plant is expected to quadruple its capacity to 48,000 m 3 /day, meeting the local water demand until 2050.
T he OPEC Fund is providing a €20 million loan to Raiffeisen Bank Albania (RBAL) for on-lending to micro, small and medium-sized enterprises (MSMEs), especially women-led businesses and companies that are supporting food security or green energy projects. The OPEC Fund’s loan, the first to a financial institution in Albania, is extended in parallel with a €50 million loan by the European Bank for Reconstruction and Development (EBRD). The funds are eligible
against RBAL’s Minimum Requirements for own funds and Eligible Liabilities, helping the bank to achieve its target as set by the Bank of Albania. Micro, small and medium-sized enterprises are the backbone of Albania’s economy, accounting for 99 percent of all businesses, providing 82 percent of employment and producing 64 percent of all exports. The loan will also support RBAL’s lending to the agribusiness sector to strengthen food security and value chain resilience.
Expanding transport infrastructure in Bosnia and Herzegovina
Aiding Libya flood relief effort
Abdulhamid Alkhalifa, OPEC Fund Director- General, with Hesran Amidi, Bosnia and Herzegovina Minister of Finance and Treasury
T he OPEC Fund signed a €25 million loan in support of the Corridor Vc Motorway – Section Nemila-Donja Gracanica in Bosnia and Herzegovina. The new 335 km highway is a key project for the country, internally connecting north and south and externally linking the country with the Trans-European Transport Network. Other benefits for Bosnia and Herzegovina include enhanced road
I n response to the humanitarian emergency caused by Storm Daniel in Libya in September 2023, the OPEC Fund approved a US$500,000 grant to provide urgent and medium-term relief through the provision of food, clean water, shelter as well as protection and prevention measures. The storm struck major population centers such as Benghazi, Tobruk and Derna, causing severe damage to the health system, electricity, telecommunication, infrastructure and roads, limiting access to these areas.
safety, reduced travel times and cost as well as a boost to trade and tourism.
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