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VIENNA / WAM
The Opec Fund for International Development (OFID) signed pu-blic sector loan agreements totalling $37.5 million with Gui- nea Bissau, Burundi and Uga-nda to support socio-economic development and living standards in the African continent.
OFID’s $20 million loan to Burundi will help fund the ‘Rumonge-Nyanza Lac Road Rehabilitation Project’. Improvements to 52km stretch of road will promote development in Burundi’s southwest region and strengthen regional integration with Tanzania. Some 340,000 people will benefit.
At the signing ceremony, OFID Director-General Sule-iman J Al-Herbish emphasised the crucial role of transport infrastructure in socio-economic development.