Middle East & North Africa

OFID signs loan agreements to help strengthen food security in Cote d’Ivoire, Malawi

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VIENNA, Aug 24 2018 - The OPEC Fund for International Development (OFID) has signed public sector loan agreements with Cote d’Ivoire and Malawi to help boost socio-economic development and living standards.

The agreements, totaling US$34 million, were signed by OFID Director-General Suleiman J Al-Herbish and Roger A Kacou, Ambassador of Cote d’Ivoire to Austria, and Michael B Kamphambe Nkhoma, Ambassador of Malawi to Germany, OFID said in a statement.

Al-Herbish said the loan represented OFID’s third involvement in helping strengthen the country’s water sector, which supports the government’s 2016-2022 Growth and Development Strategy with the view to reduce poverty through sustainable economic growth and infrastructure development.

WAM/Hatem Mohamed

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