OFID - Afrikan Heroes

OFID grants Africa with $140 million for public development

November 12, 2020

The OPEC Fund for International Development (OFID) has approved $310 million to benefit different developing countries across the globe, of which $140 million is targeted at improving the public sector in five African countries. This finance disbursement program is in line with the organization’s goal of providing responsive and impactful development which will improve the lives of underserved people across the world.

Similar to the $85 million loan given to four African countries in October 2019, this newly-approved public sector loans, amounting to $140 million, will support five African countries in the following projects.A total of $15 million was assigned to strengthen the resilience of rural communities against Food and Nutrition Insecurity. According to the Organization for Economic Co-operation and Development (OECD), about 20 percent of the population in Niger, approximately 2.7 million people, require urgent food support.This funding will, however, help to enhance food security for more than 1.4 million people through the construction and rehabilitation of farming facilities, better rural marketplace infrastructure, amongst others.

OFID gave the Democratic Republic of Congo a total of $45 million, the majority of the loan ($30 million) will be used to provide clean water supply for 1.4 million people living in western Kinshasa with clean drinking water. This will be achieved through the construction of a water supply infrastructure capable of producing 220,000 m3 of water per day.

The remaining ($15 million) will be used to support the North Kivu Agriculture Sector and improve food security and incomes of more than 170,000 people. This will help the one-fifth of the population who are facing emergency levels of food insecurity. To improve the health and living conditions of about 118,000 people in Lesotho, OFID gave $30 million which will aid the construction of new water delivery and treatment infrastructures under the Lesotho Lowlands Water Development Project.

This funding combined with others from the European Bank and The World Bank will aid the completion of the cleaner water supplies which is critical to improving the quality of life of locals in Lesotho. With the allocated $20 million to support the transformation in agriculture through diversification and entrepreneurship, about 1.3 million people are to benefit from this funding.

Also, it will support the Malawian value chain, whilst building the capacity of smallholder farmers and rural organizations with access to rural financial schemes and business development services. A total of $30 million given by OFID will support smallholder oilseed producers around 120,000 households in about 53 districts in Uganda.

The construction and repair of feeder roads, water harvesting mechanisms for crops and livestock, and supply chain development will also take place to enhance seed planting. Through these public-sector loans financing different disadvantaged areas, OFID will help stimulate economic growth and alleviate poverty in these African countries.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

The OPEC Fund for International Development (OFID) launches new strategy, sets sights on sustainable growth and maximum development impact

July 22, 2019

OFID’s highest policy-making body, the Ministerial Council, held its 40th Annual Session in Vienna, Austria, and approved the general principles of OFID’s new Strategic Framework. The new strategy affirms OFID’s commitment to providing support to developing countries – especially low-income countries – in an increasingly complex and challenging development landscape.

At the Ministerial Council meeting, OFID Director-General Dr. Abdulhamid Alkhalifa said: “OFID’s vision is to be a relevant, agile and efficient development finance institution that can deliver maximum development impact to its partner countries while becoming self-sustainable in financing its operations.”

Over the coming months, OFID will embark on a journey to diversify its financial resources and to implement a coherent and consistent set of actions aimed at creating greater efficiency throughout the institution and equipping it with more innovative and responsive operational and financial instruments.

As part of its new strategy, OFID will renew its focus on partnerships. OFID works closely with organizations such as the World Bank, regional development banks and the bilateral and multilateral agencies of OFID member countries, as well as specialized agencies of the United Nations. In addition to strengthening existing partnerships, OFID aims to form new relationships to revitalize the global partnership in support of sustainable development.

In keeping with previous years, a highlight of the Ministerial Council’s public session was the presentation of the OFID Annual Award for Development. The 2019 Award was bestowed on Vida Duti – Country Director of the IRC International Water and Sanitation Centre in Ghana – in recognition of her remarkable work and engagement in ensuring sustainable water, sanitation and hygiene (WASH) services for the population of Ghana (see press release PR14).

The Ministerial Council also considered and approved OFID’s financial statements and 2018 Annual Report, which shows cumulative commitments to global development exceeding US$23.4 billion.

OFID aims to continue to support the global efforts to overcome development challenges, as it has done since 1976, by extending concessionary financial assistance; participating in the financing of private sector activities in developing countries; contributing to the resources of other development institutions.

Since it was established, the organization has improved its capabilities and operational reach to support South-South development and socioeconomic growth in partner countries around the world. Public Sector lending, including to low-income countries, will continue to represent the largest portion of OFID’s loan portfolio, going forward.

The Ministerial Council comprises the finance ministers and other high-level representatives of OFID Member Countries. It meets once a year.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

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2019 OFID Annual Award for Development recognizes Vida Duti’s remarkable water and sanitation work in Ghana

2019 The OPEC Fund for International Development (OFID) Award for Development has been conferred upon Vida Duti, in recognition of her remarkable work in striving for sustainable water, sanitation and hygiene (WASH) services for the population of Ghana. Duti, who is Country Director of the IRC International Water and Sanitation Centre in Ghana, will receive US$100,000 from OFID in recognition.

Duti leads a team of 12 in Ghana. The team’s priority is advocating for greater financial and political support for WASH, while also supporting national government policies, standards, and guidelines. Its priority in its partner district, Asutifi North, is to support the roll-out of a WASH ‘master plan.’

This plan aims to provide universal WASH services for the entire population of the Asutifi district by 2030. Currently, only around half of the district’s 62,816 people have access to adequate water facilities and just 15 percent to decent sanitation. The project’s coalition includes local government, World Vision, the Conrad N Hilton Foundation, Safe Water Network and non-profit organization Aquaya.

Duti attended a presentation ceremony at OFID’s headquarters during the 40th Annual Session of the organization’s Ministerial Council in Vienna. She said she was humbled to receive the award and that it would motivate and strengthen her resolve to work harder to improve the quality of life of people in the developing world.

“I dedicate this award to the people of Ghana and the Asutifi North district for whose quest I gained this recognition,” said Duti. “I wish to express my profound gratitude to the Chairman and Ministerial Council, the management and staff of OFID. I assure you of my resolve to work harder towards improving the quality of life for people in the developing world, especially Ghana.”

OFID Director-General Dr. Abdulhamid Alkhalifa said: “OFID recognizes the important role women play in the WASH sector, advancing solutions and encouraging behavioral change. Vida Duti’s engagement in this sector is exemplary and is helping to deliver access to safe, reliable and affordable water services to numerous people in Ghana.

“OFID hopes that bestowing this year’s Annual Award for Development to Mrs. Duti will help accelerate action in sub-Saharan Africa, encourage the many women working in development, and highlight the important issues of safe water and hygiene.”

The OFID Annual Award for Development was introduced in 2006 to highlight the achievements of organizations and individuals in poverty reduction and sustainable development. Past winners include: Bangladesh-based BRAC, for its support of Rohingya refugees in Bangladesh; the Foundation for Integral Development in Guatemala; Syrian refugee Doaa Al Zamel; the Children’s Cancer Hospital in Egypt; Kenya’s Kakenya Center for Excellence; Malala Yousafzai of Pakistan; Dr Mazen Al-Hajri, renowned ENT surgeon and philanthropist; Professor Muhammad Yunus; and Bartolina Sisa National Confederation of Peasant Indigenous Native Women of Bolivia.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.