OPEC Fund to Release Fresh Development Financing

Eleven poor nations in Africa, Asia and the Caribbean may access loans totaling USD118.8 million from the OPEC Fund for International Development. Majority of the funding will be used to shore up the transportation sectors of beneficiary countries. "OFID has long recognized that inadequate transportation links have far-reaching consequences," OFID Director-General Suleiman J. Al-Herbish said in a

. The sum will also support initiatives to improve agricultural production and food security. "Villagers remain isolated from basic social services and jobs, while farmers are prevented from transporting their produce to marketplaces," Al-Herbish added.

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